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Taiwan's CPC Plans Diversified Crude, Qatar LNG Purchases After Hormuz Reopens

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Taiwan's state-owned energy company, CPC Corp, said it is preparing to broaden its slate of crude oil and LNG imports when the Strait of Hormuz reopens, news outlets reported.

If the Strait reopens in time, CPC reportedly plans to designate Gulf loading ports in July and August to secure a more diversified mix of crude oil, including heavier and higher-sulfur grades that can be used to increase bitumen and sulfur production to meet domestic demand.

News outlets also reported that the company is considering LNG imports from Qatar, which could begin arriving in Taiwan as early as September if shipping routes resume normal operations soon.

"CPC continues to closely monitor developments in the Middle East and will promptly and flexibly adjust its oil and gas procurement plans as needed," the company reportedly said.

Separately, Taiwan's Energy Administration under the Ministry of Economic Affairs reportedly said: "Going forward, depending on the situation in the Strait of Hormuz, Taiwanese businesses will assess energy imports from the Middle East region, without being limited to any specific country."

CPC and the Ministry of Economic Affairs did not immediately respond to a request for comment from.

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