Taiwan Commits Up to $4.4B to Alaska LNG Megaproject to Secure 20-Year Supply

Taiwan's state energy company, CPC Corp., has agreed to invest up to $4.4 billion in the Alaska LNG megaproject. The deal commits Taiwan to purchasing 30% of the facility's total output over a 20-year period, which equates to 6 million tons of liquefied gas annually starting in 2032. The $44 billion infrastructure project includes a planned 800-mile pipeline designed to transport natural gas from North Slope production centers to south-central Alaska for Pacific export. Interest from Asian investors has accelerated as Middle East conflicts disrupt heavily relied-upon Qatari liquefied gas supplies, forcing a rapid search for diversification. Project operator Glenfarne estimates that shipping costs for Alaska-produced LNG will run at roughly 35% of the shipping costs for Gulf Coast liquefied gas.