Taiwan's CPC secures oil and gas supply into next year
Taiwan's state oil company says fuel and gas supplies are safe through the end of the year even as the Middle East war pushes oil back above $100 a barrel — reassuring for households and industry, but a warning sign for energy costs.
- CPC has locked in purchases through December and has already started buying for the first three months of next year.
- Gas safety stockpiles now cover 14 days, above the 11 days the law requires.
- Taiwan lost about a third of its usual gas supply after the war began in late February, with the U.S. and Australia filling the gap.
- With few storage tanks of its own, Taiwan leaned on Japanese partners for spot cargoes — one shipment of American gas arrived from Osaka Gas this week.
- The main import terminal at Yongan is running above 100% of capacity, which raises the risk of breakdowns until a new terminal opens around 2030.
Outlook: Supply looks secure in the near term, but Taiwan stays exposed to war-driven price spikes and overworked infrastructure until new terminals come online.