S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%
A daily business newspaper · Founded in 2026

Money Talk

Finance and markets: business, quotes, gold, energy and releases.

Taiwan Cuts $800 Million in Spot LNG Purchases From Papua New Guinea

Diplomatic friction has hit the energy sector as Taiwan halted 500,000 metric tons of spot-market liquefied natural gas purchases from Papua New Guinea. The move follows Port Moresby’s abrupt decision to close Taipei’s representative office, signaling a shift in the economic cooperation between the two nations.

Taiwan Cuts $800 Million in Spot LNG Purchases From Papua New Guinea

While spot-market demand worth $800 million has been pulled, the core of the energy relationship remains intact. Taipei will continue to honor its long-term contract, importing 1.2 million metric tons of LNG annually through 2030. This agreement is vital for Port Moresby, representing roughly one-third of the country's total LNG exports.

The suspension follows Papua New Guinea's adoption of a One China policy, a pivot praised by Chinese Foreign Minister Wang Yi. In response, the U.S. State Department expressed deep concern over the closure of the trade office, citing the loss of substantial economic and technological benefits. Taiwan, which relies on imports for 95% of its energy needs, uses natural gas to generate nearly half of its electricity. Officials confirmed that while development assistance is under review, Taiwanese personnel currently remain in Port Moresby without interference.

Share article
TelegramXFacebook

When reusing this material a link to Money Talk is required.

Comments (0)

Leave a comment

No comments yet. Be the first!