The government’s energy transition plan depends on the construction of the proposed third liquified natural gas (LNG) terminal off the coast of Datan Borough (大潭) in Taoyuan’s Guanyin District (觀音) to increase LNG power generation, Minister of Economic Affairs (MOEA) Wang Mei-hua (王美花) said yesterday.
“If we do not have the third LNG terminal as planned, we will not be able to reach 50 percent electricity generation from natural gas and 30 percent electricity generation from coal” by 2025, Wang said at a meeting of the legislature’s Economics Committee in Taipei.
In December last year, 41.5 percent of Taiwan’s electricity came from coal-fired plants, 40.1 percent from natural gas, 14.4 percent from nuclear power and 5.8 percent from renewables, Bureau of Energy data showed.
Photo: Wang Yi-sung, Taipei Times
The government plans to phase out nuclear power by 2025, reduce the use of coal to 30 percent and boost renewables to 20 percent.
The two existing LNG receiving terminals are already running at full capacity, necessitating the third LNG terminal, Wang said.
Democratic Progressive Party Legislator Chiu Chih-wei (邱志偉) asked Wang whether the ministry has a backup plan if a referendum to block the terminal plan prevails.
“As of now, there is no plan B,” Wang said. “The MOEA calls for the swift construction of the third LNG terminal to reduce the amount of coal burned.”
“Gas from the third LNG terminal would fulfill the power needs of 10 million Taiwanese and close the power gap in the north of Taiwan,” Wang said. “This would allow us to generate power where it is used, lowering systemic risk.”
LNG power generation releases approximately 50 percent less greenhouse gas than coal-fired power generation, and much fewer pollutants.
The 5,824 megawatt Taichung Power Plant is the third-largest coal-fired plant in the world and is often fined by the Taichung City Government for using too much coal.
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
After several years flying high as Asia’s best Nvidia Corp proxy, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is increasingly vying with other artificial intelligence (AI) stocks for investor attention. Stock traders are chasing a wider array of beneficiaries as mainstream usage of AI creates demand for hardware beyond the most-advanced chips TSMC makes for Nvidia. Subthemes from the deepening memory crunch to advances in robotics are also luring bids. At the same time, investment caps on single stocks are pushing funds to diversify, while retail investors long familiar with TSMC through its US depositary receipts are being offered a broader set of
TECH RELIANCE: Growth is increasingly reflecting an unequal K-shaped distribution, where technology sectors outperform and other industries struggle, an expert said Standard Chartered Bank has significantly raised its forecast for Taiwan’s economic growth to 9.5 percent this year, up from 7.6 percent previously, citing surging artificial intelligence (AI) demand driving exports, semiconductor production and investment. The upgrade reflects a sustained AI supercycle that continues to fuel demand for advanced chips and technology infrastructure, which form the backbone of Taiwan’s exports, the bank said in a report this week. “We raise our 2026 growth forecast to reflect a much stronger-than-expected first-quarter GDP figure,” Standard Chartered senior economist for greater China and Asia Tommy Wu (胡東安) said in the report. Driven largely by a 35.3 percent
Two of Taiwan’s international carriers, Starlux Airlines Co (星宇航空) and EVA Airways Corp (長榮航空), have retained the five-star airline rating awarded by international airline review organization Skytrax. Starlux was awarded the distinction for a second consecutive year, while EVA Air received it for the 11th straight year, Skytrax said in statements released yesterday and on Thursday last week, respectively. The five-star rating is considered one of the airline industry's highest honors and is awarded following professional audits of airline product and frontline service standards, Skytrax said. The ratings are based on in-depth assessments using unified global quality standards rather than customer review scores
RSS