Taiwan Halts $800 Million in Spot LNG Buys From Papua New Guinea

Taiwan has suspended approximately 500,000 metric tons of liquefied natural gas purchases from Papua New Guinea every six months, removing roughly $800 million of spot-market demand after Port Moresby ordered the closure of Taipei’s representative office. The decision leaves Taiwan’s long-term LNG supply contract untouched. Taipei will continue importing 1.2 million metric tons of PNG LNG annually through 2030, preserving a supply agreement that accounts for roughly one-third of Papua New Guinea’s LNG exports. Papua New Guinea…