CNOOC to supply LNG to Taiwan

China National Offshore Oil Company (CNOOC) has signed a LNG supply contract with Taiwan’s CPC Corporation. The deal will see CNOOC to start the first shipment of LNG from mainland China to Taiwan.

“The deal will create a new chapter to the LNG cooperation between the two sides of the strait,” said Wang Yilin, president of CNOOC.

“The two companies have a long history of cooperation, and we hope the two companies will create more opportunities together in the LNG and new energy sector,” said Lin Sheng-chung, president of CPC Corporation.

CPC Corporation is the largest state-owned energy company in Taiwan; it had monopolized Taiwan’s petroleum industry until 1990s when private firms were allowed to invest in the industry.