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CPC carried out five ongoing and two new investment projects, totaling NT$19.4 billion, aimed at enhancing competitiveness and strengthening environmental sustainability. Below is an overview of the three key projects:

1. Taichung LNG plant phase II expansion
To address the growing natural gas demand from Taipower and enhance Taiwan's natural gas supply stability, CPC is expanding its second LNG Receiving Terminal and associated facilities at Taichung Harbor. This project, with a budget of NT$18.5 billion, is expected to be completed by December 2018.

2. The third LNG Receiving Terminal
In response to rising natural gas demand from Taipower, as well as industrial and commercial consumers in northern Taiwan, CPC is constructing its third LNG Receiving Terminal. The project, costing NT$60.1 billion, is slated for completion by December 2025.

3. Phase 1 Distillation Package
This project aims to strengthen CPC's market position in petroleum products and petrochemicals. It includes a 150,000 bpd topping unit and associated distillate hydrotreaters at the Dalin refinery, designed to enhance crude oil processing capacity and refining efficiency while increasing the production of naphtha feedstock. The project, with a budget of NT$20.5 billion, is set for completion by June 2017.

Sydney, July 11 (CNA)-Australia's Woodside Energy announced in a media release on Thursday that it has signed a long-term agreement with Taiwan's state-owned oil and gas company, CPC Corp., Taiwan (CPC), for the supply of liquefied natural gas (LNG) to Taiwan.
Under the sales and purchase agreement (SPA), the Australian energy company will deliver approximately 6 million tonnes of LNG over 10 years. The contract is set to commence this month.
Woodside CEO Meg O'Neill expressed enthusiasm for the SPA, marking the company's first long-term sales agreement with Taiwan.
"This agreement with CPC for long-term supply to Taiwan is a first for Woodside and another demonstration of the ongoing demand for Australian LNG in Asian markets," O'Neill said.
According to the media release, Woodside may supply CPC with approximately 8.4 million tonnes of LNG over an additional 10 years, from 2034 to 2043, pending conditions and agreement on terms for that period.
Taipower is already a major customer for Australian LNG through Ichthys LNG, a joint venture led by Japan's Inpex, France-based TotalEnergies, and other participants, including CPC's Australian subsidiaries, which hold a 2.625 percent stake.
The Ichthys project has an annual production capacity of approximately 8.9 million tonnes of LNG.
In 2023, Taiwan ranked as Australia's third-largest LNG purchaser, following Japan and China.
Australia is Taiwan's largest LNG supplier and has also invested in key offshore wind power development projects in Taiwan.
According to the Australia's Office of the Chief Economist last month, Taiwan's LNG imports from Australia grew by almost a third over the four years to 2023.
(By Yang Chuen-hui and Evelyn Kao)
Focus Taiwan