State-owned utility Taiwan Power Co (Taipower, 台電) has made its last payment for Russian coal under a deal signed before the war in Ukraine and would not enter into any new purchase agreements with Russia, a company spokesperson said yesterday.
Taiwan has joined in Western-led sanctions against Russia for its invasion of Ukraine, keen to show it is a responsible member of the international community, and the government has condemned Russia for its actions.
Taipower spokesperson Wu Chin-chung (吳進忠) said that before the war the company had agreed to buy 1.16 million tonnes of coal this year from Russia for US$280 million.
Photo: Tu Chien-jung, Taipei Times
The final payment of US$150 million was made this month and no further coal would be bought from Russia, with coal coming instead from Indonesia, Australia, Colombia and South Africa, Wu said.
Most coals procured by Taipower are from Indonesia and Australia and a few of coals are from Russia, the company’s Web site showed.
The coals from Australia and Russia are bituminous coals that can provide higher heating value, while those from Indonesia are sub-bituminous coals with extremely low ash content, the Web site showed.
Wu’s remark came after a Finnish think tank said that Japan, South Korea and Taiwan imported US$5.5 billion of fossil fuels from Russia in the first five months of this year following the war in Ukraine.
The Helsinki-based Center for Energy and Clear Air Research estimated that Japan purchased US$2.6 billion of Russian coal, oil and gas between Feb. 24 and July 31, while South Korea purchased US$1.7 billion of Russian fuels during this period and Taiwan US$1.2 billion, Nikkei Asia reported on Tuesday.
China imported about US$28 billion of Russian energy over the period, making it the world’s largest buyer, the report said, citing the center’s estimate.
Additional reporting by Chen Cheng-hui
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