Taiwan Commits To Buying PNG Gas For Next 20 Years

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LNG deal likely to lead to stronger bilateral relations

PORT MORESBY, Papua New Guinea (The National, August 18, 2014) – Taiwan’s Chinese Petroleum Company is committed to buying liquefied natural gas from PNG in the next 20 years and beyond, chairman Cheng Lin says.

Lin was in Port Moresby on Friday for a dinner organised by ExxonMobil for all stakeholders.

The Fortune 500 company has an annual turnover of more than US$400 billion a year.

Lin said that Taiwanese businesspeople knew little about PNG. But thanks to the LNG deal, and the efforts of Taiwan Trade Mission leader Daniel Hu, stronger bilateral relations would be created.

"Papua New Guinea and Taiwan are members of APEC, and under the APEC agreement, ministers get opportunities to talk," he said.

"Taiwan can assist PNG in developing its small and medium enterprises."

Lin said Taiwan previously sourced its LNG from Qatar, Malaysia, and Indonesia.

"This (PNG) will be the fourth-largest (LNG) supplier to our side," he said.

"Already, some Taiwanese fishermen are fishing in your country. Your country has many good resources."

Hu said the deal augured well for improved relations between the two countries.

"This will certainly strengthen bilateral relations," he said.

"The good thing is that the two countries are not far from each other.

"Taiwan is making a shift from nuclear power to LNG and there is potential to import more LNG from PNG.

"Our relationship in future will be transformed."

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