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Taiwan’s energy demand falls for third month

Taiwan’s energy demand fell for a third month in September as a slowing economy reduced fuel use by manufacturers and motorists, the Bureau of Energy said.

The island’s overall use of coal, petroleum, gas, solar energy and electricity dropped 7.2 percent from a year earlier to the equivalent of 10 million kiloliters of oil, or about 2.1 million barrels a day, the bureau said in an e-mailed statement. Demand declined 6.5 percent in August and 6.7 percent in July.

Taiwan’s industrial output fell 1.39 percent from a year earlier in September, the first decline since March last year, an economic ministry report showed on Oct. 23. Production in the chemical industry dropped 17 percent. The government said last month it plans to cut its 2009 economic growth forecast.

“The drop in energy consumption reflected the slowdown in the economy somewhat,” Alan Wang, a planning official at the bureau, said by telephone in Taipei today.

“The petrochemical industry is sluggish,” Wang said.

Formosa Plastics Corp (台塑), Taiwan’s biggest maker of polyvinyl chloride, or PVC, reported a 13 percent decline in September sales. The oil-derived plastic material is used in construction and consumer products, such as handbags and shoes.

Consumption of petroleum products plunged 20 percent from a year earlier to the equivalent of 3.58 million kiloliters of oil in September, the bureau said. Energy demand for transportation purposes dropped 18 percent, according to the bureau.

Power consumption climbed 2.7 percent to 22.1 billion kilowatt-hours in September, with demand from industrial and energy companies 8.2 percent higher than a year earlier.

Energy use in the nine months increased 1.8 percent to the equivalent of 93 million kiloliters of oil.

Taiwan’s crude oil imports dropped 18 percent from a year earlier to 3.26 million kiloliters in September, while shipments of petroleum products to overseas customers soared 29 percent to the equivalent of 1.65 million kiloliters of oil, the bureau said.

Formosa Petrochemical Corp (台塑石化) and CPC Corp, Taiwan (台灣中油), Taiwan’s only refiners, utilized 62 percent of their crude distillation capacity in September, down from 73 percent in August, the bureau said. Crude oil processing declined 18 percent from a year earlier to 3.73 million kiloliters.

Coal imports fell 17 percent to 4.84 million tonnes in September, according to the bureau. Purchases of liquefied natural gas declined 0.3 percent to 957.9 million cubic meters.

In the first nine months, imports of crude oil fell 6 percent to 40.1 million kiloliters and LNG purchases increased 9.8 percent to 9 billion cubic meters. Coal imports dropped 1.4 percent to 47.7 million tonnes.
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