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Chinese Petroleum Corp. visits Peninsula

Posted: Tuesday, March 16, 2004

Lt. Governor Loren Leman and Borough Mayor Dale Bagley recently hosted the General Manager LNG Purchase Division of the Chinese Petroleum Corporation (CPC) in Taiwan, Jane Liao, for a tour of Cook Inlet petrochemical facilities.

Liao was invited to Alaska as the keynote speaker for the 2004 Petcom exposition and conference in Anchorage. "Taiwan is an LNG buyer, and I understand that Kenai exports LNG to Japan so I wanted to take this opportunity to visit Kenai as an LNG supplier," Liao told a press conference at Mayor Bagley's office.

 

Lt. Governor Loren Leman and Borough Mayor Dale Bagley exchange token gifts from their homelands.

Taiwan has been interested in becoming an LNG buyer from Alaska since Yukon Pacific first formulated plans for a natural gas pipeline in the 1980's. "We are not endowed with energy resources in Taiwan, we have a bit of indigenous natural gas, but not enough. Imports of LNG accounts for 90% of our natural gas supply," said Liao. According to the Company's annual report, Chinese Petroleum is taking strong initiatives to expand all business forefronts and an all-out effort to win the LNG supply contract for the Da-Tan Plant of Taipower Co. CPC is funded 100% by the National Treasury of Taiwan.

Liao also noted that her country might be interested in buying fish from Alaska, "Governor Murkowski has mentioned several times that we want to encourage trading between Taiwan and Alaska, and I can see that there are some quite promising opportunities in the future," said Liao, who is also an expert on the emerging Asian markets of Japan, India, Korea, and China.

 

Lt. Governor Loren Leman and Borough Mayor Dale Bagley exchange token gifts from their homelands.

According to Lt. Governor Loren Leman, the market place is what will determine the type of energy products that will be in future demand, "I'm here to indicate our support from the State of Alaska for exporting our resources such as gas in whatever product the market demands, whether that is LNG or GTL. Ms. Liao's company is an example of a client or customer that we will have to be able to sell our gas products to in order for those products to become economical," said Leman. The worldwide demand for gas is on the increase and that demand says Leman is being driven substantially by new power plants in the U.S., which are being fired by natural gas. However, Leman also pointed out that 15 years ago expert predictions were that North Slope gas would be flowing to market by mid 2004, but even so he said he remains cautiously optimistic that the time and demand is at hand that will bring Alaskan gas to market.



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