Taiwan plans to increase imports of U.S. LNG to make up a third of its supply, up from 10%. The Economy Minister stated the country will reduce imports from other suppliers to focus on American gas. Last year, Taiwan’s CPC signed a letter of intent to invest in the Alaska LNG project. Glenfarne Group recently announced major milestones for the Alaska LNG Project, moving Phase One into early execution. Phase Two will add an LNG liquefaction terminal. Taiwan and the U.S. reached a trade deal to reduce U.S. tariffs on Taiwanese products to a maximum of 15%, with tariff exemptions for Taiwanese semiconductor companies investing in the U.S. Taiwan will provide credit guarantees of at least $250 billion to support Taiwanese enterprises investing in the U.S.

Read more at Yahoo Finance: Taiwan to Hike U.S. LNG Imports After Reaching Trade Deal