Taiwan expands US natural gas imports with new supply deals

Taiwan's government said on Tuesday that its natural gas imports from the United States will increase from June as it has signed new supply contracts, adding that it was working to address the disruption caused by the war in the Middle East.

Taiwan's cabinet, in a statement following a meeting about how to deal with the impact of the war on energy and prices more broadly, said the economy ministry was tracking international crude oil conditions and inventory levels on a daily basis.

The ministry is also monitoring shipping schedules for incoming cargoes, in order to maintain a, "full grasp of international crude oil and natural gas supply conditions".

Taiwan's domestic petroleum inventories and liquefied natural gas (LNG) inventories are both above the levels required by law, it added.

"In addition, new international contracts have been signed, and starting in June, imports of natural gas from the United States will increase," the statement said, without giving details.

The ministry's plan also includes advanced cargo rescheduling, Asian regional cargo reallocation, and spot market purchases, it said, adding there is sufficient domestic supply for March and April.

(Reporting by Ben Blanchard; Editing by Tom Hogue and Christian Schmollinger)