Taiwan’s significant trade surplus with the U.S. could make it a potential target for tariffs under the Trump administration. In response, the Taiwanese government is exploring ways to expand its procurement of American goods. The Economic Ministry recently revealed that the state-owned CPC Corporation is interested in purchasing liquefied natural gas (LNG) from Alaska.
On Thursday, CPC stated that Australia, Qatar, and the United States were Taiwan’s top three LNG suppliers in 2024. The company has already signed three long-term contracts for American LNG and is currently evaluating the feasibility of increasing LNG imports.
Chair Professor of National Central University Liang Chi-yuan (梁啟源) noted that crude oil imports from the U.S. account for approximately 27% of Taiwan’s total purchases, second only to Saudi Arabia. However, U.S. LNG makes up just 10% of Taiwan’s natural gas imports, far below the shares from Australia and Qatar, indicating room for growth. Liang suggested that in addition to oil and gas, coal imports from the U.S. could also be a viable option.
Liang pointed out that Trump has declared an “energy emergency” and advocates for boosting fossil fuel production to enhance U.S. energy independence. As supply increases, prices for U.S. oil, gas, and coal are expected to decline, potentially making spot market rates more competitive than long-term contract prices in the future.