Taiwan invests in Alaska LNG export project for security

Taiwan's CPC Corporation has taken a significant step to strengthen its energy security. On Thursday, the state-owned company signed a letter of intent to invest in the Alaska LNG export project and purchase liquefied natural gas (LNG) from it. The agreement was made with the Alaska Gasline Development Corporation (AGDC) during a meeting that included Alaska Governor Mike Dunleavy. This preliminary deal aims to boost Taiwan's gas supply by using a closer and more reliable source of LNG. Alaska officials are currently visiting several Asian countries, including Japan and South Korea, to promote the $44 billion Alaska LNG project. This project aims to transport natural gas from Alaska to local consumers and export LNG to allies in the Pacific. If completed, it would provide Taiwan with its nearest LNG supply point in the U.S., avoiding the Panama Canal and thus reducing shipping time and risks. Governor Dunleavy emphasized that LNG from Alaska would help Taiwan diversify its energy sources and maintain stable prices. The U.S. government is actively encouraging its allies in Asia to invest in this project, which is also supported by the past Trump administration. Despite interest from some Asian countries, there are concerns, especially from Japan, about the high costs associated with the project's infrastructure and the challenges from Alaska's cold climate.