A multinational project to retrieve liquefied natural gas off the coast of Australia has begun to yield results, with the first shipment of gas reaching Taiwan.
The state-run CPC Corporation is working with companies from the Netherlands, Japan, and South Korea on the project, called the Prelude FLNG Project. Work began last December off Western Australia.
CPC has a 5% stake in the project. When production reaches its peak in 2021, this is expected to translate to ownership of 180,000 tons of liquefied natural gas, 20,000 tons of liquefied petroleum gas, and 65,000 barrels of condensate. CPC said on Thursday that this will increase the share of Taiwan-owned energy resources in the world.