Foreign Media Warns of Energy Weakness, Ministry of Economic Affairs: No Power or Gas Shortages Since Middle East Conflict Began

The Ministry of Economic Affairs (MOEA) has responded to foreign media reports warning of Taiwan's high reliance on imports and low liquefied natural gas (LNG) reserves, which could impact power supply and the economy if maritime transport is disrupted. The MOEA clarified that since the Middle East conflict began 46 days ago on February 28th, the government's effective management has ensured no power or gas shortages have occurred domestically. The ministry stated that it immediately grasped the relevant information and activated its energy response team on March 2nd, daily inventorying domestic oil, gas, and coal reserves, all of which are above statutory safety levels. Taiwan's LNG inventory regulations, supply scheduling, and crisis response are superior to those of other countries, and the media's portrayal of a severe shortage crisis is factually incorrect, assuring the public and industry. Taiwan currently requires a minimum of 11 days of natural gas reserves, a standard that will be raised to at least 14 days starting in 2027. Compared to neighboring Asian countries, Japan has no natural gas reserve regulations, and South Korea has only 9 days, indicating Taiwan's standard is significantly higher and its preparations are more rigorous. In anticipation of potential disruptions in the Strait of Hormuz, CPC Corporation has already initiated a three-stage plan involving 'early cargo procurement,' 'Asian cargo procurement,' and 'market spot purchases.' Gas sources for April-May are fully secured, and June sources are nearly finalized, with arrangements underway for July and beyond, guaranteeing uninterrupted domestic gas supply. The MOEA pointed out that according to the International Energy Agency's (IEA) review of global energy response policies to the Middle East conflict, many countries have implemented mandatory gas usage restrictions and energy conservation strategies. In contrast, Taiwan, due to its proactive planning and effective current management, has ensured the normal operation of daily life and the economy, demonstrating relatively superior energy resilience compared to other nations. Regarding overall electricity supply, the MOEA emphasized that CPC and Taipower have a close early warning mechanism, and the blackout risks speculated by the media will not occur. Taipower's generating units are currently operating according to their established schedules, with specific contingency plans prepared to ensure stable national power supply for daily life and industry under various extreme scenarios.