BMI View: Plans are presently under way to begin deepwater exploration off Taiwan’s south-western coast and near the Itu Aba island, the largest island in the disputed and potentially oil-rich Spratly islands in the South China Sea. Despite the fact that the government has allotted a monthly budget of approximately NT $17mn per month towards exploration activities, Taiwan is set to remain almost entirely dependent on energy imports for the foreseeable future. Meanwhile, a growing appetite for imported gas has created a need for fresh liquefied natural gas (LNG) purchase schemes, with Australian and Qatari volumes on the rise and …
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