Thursday, 14 November 2013

Taiwan Oil and Gas Report Q1 2014

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Taiwan Oil and Gas Report Q1 2014
Nov 13th 2013, 00:00

Price: $ 1295  

BMI View: Plans are presently under way to begin deepwater exploration off Taiwan's south-western coast and near the Itu Aba island, the largest island in the disputed and potentially oil-rich Spratly islands in the South China Sea. Despite the fact that the government has allotted a monthly budget of approximately NT $17mn per month towards exploration activities, Taiwan is set to remain almost entirely dependent on energy imports for the foreseeable future. Meanwhile, a growing appetite for imported gas has created a need for fresh liquefied natural gas (LNG) purchase schemes, with Australian and Qatari volumes on the rise and Papua New Guinea set to become a new source of supply. However, we note that the country's current LNG import capacity could temporarily limit the growth of LNG imports, a ...

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