SIX-YEAR PLAN:The refiner has budgeted NT$60.8 billion for a new natural gas storage terminal in Taoyuan and wants to build a new storage center in Kaohsiung
Date: Feb 10, 2017
By: Kuo Chia-erh / Staff reporter
CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it plans to allocate more than
NT$200 billion (US$6.44 billion) for capital expenditure over the next six years to expand its natural gas business.
“The capital spending would mainly be used for establishing the company’s third liquefied natural gas terminal and constructing natural gas infrastructure in the nation,” CPC chairman Chen Chin-te (陳金德) told a news conference in Taipei.
The state-run oil refiner plans to spend NT$60.8 billion on a new terminal in Taoyuan for storing natural gas, which is scheduled to start operations before 2023 with an estimated annual capacity of 3 million tonnes.
“The [terminal] plan follows the government’s long-term goal of a nuclear-free homeland, and we expect the terminal to meet demand for natural gas in northern Taiwan,” Chen said. [FULL STORY]