Taiwan will not be renewing contracts to buy Russian liquified natural gas and will instead buy the fuel source from other countries. The announcement came on Thursday in a press release from the state-owned oil corporation, known as CPC.
Media reports say Taiwan imported over 1 million tons of liquified natural gas from Russia last year. Those imports came in despite Taiwan’s sanctioning of Russia for its invasion of Ukraine last February.
The state-owned oil company says its contracts with Russian vendors will expire this month, and they will not be renewed. The company says they will instead purchase natural gas from Australia, Qatar, Papua New Guinea, and the United States. Most of the purchases will be made through medium and long-term contracts.
The company adds its purchasing agreements are in-line with international standards. Taiwan’s sanctions regime against Russia mirrors those from Japan, Europe, and North America.