Taiwan has announced plans to invest in a US$44 billion liquefied natural gas (LNG) pipeline in the U.S. state of Alaska, marking the first commitment from an Asian country to take part in the massive energy project. The deal, revealed at the American Chamber of Commerce Taiwan’s annual dinner in Taipei, is yet another major investment in the United States. But will it be enough to move lingering trade and tax deals forward under the Trump administration?
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00:00It's one of the most important nights on Taiwan's business calendar, an annual dinner in Taipei
00:07hosted by the American Chamber of Commerce in Taiwan, where business leaders from around
00:12the world rub elbows with officials from both countries.
00:16The star of the show wasn't a person, but a pipeline for LNG, liquefied natural gas.
00:22The Trump administration is especially eager to share our LNG resources with close partners,
00:27including through the completion of the Alaska North Slope LNG project.
00:31The pipeline, which has been pushed since President Trump took office in January, aims
00:36to sell Alaska's LNG to Asia.
00:39My administration is also working on a gigantic natural gas pipeline in Alaska, among the
00:45largest in the world, where Japan, South Korea, and other nations want to be our partner.
00:50The $44 billion U.S. project would stretch 1,300 kilometers across the northern state.
00:57The gas it produced would then be shipped to some of the world's largest gas importers,
01:01Japan, South Korea, and Taiwan.
01:05And the night saw Taiwan's national oil company, CPC, announce its intent to invest in the
01:10project and buy its LNG.
01:13We are very interested in buying Alaskan natural gas because it can meet our needs and ensure
01:21our energy security.
01:24The Alaska LNG pipeline is not merely a project.
01:28It is a symbol of our commitment to each other's success and economic security.
01:33Taiwan is aiming to get 50 percent of its power from gas this year, as it transitions
01:38away from both coal and nuclear power.
01:42Taiwan is the first Asian country to commit to Alaska's LNG project, a crucial deal for
01:47a costly undertaking that's faced criticism over its price tag.
01:51And hanging over the night's optimism are the unfinished trade and tax deals mentioned
01:56by both President Lai and the chamber's leader.
01:59There's real momentum to solve double taxation, a longstanding AmCham advocacy priority.
02:05And there is light at the end of that tunnel.
02:08We will continue to urge the U.S. and Taiwan to reach an agreement that strengthens business
02:12ties.
02:13But the night's only representative for Washington made no mention of either trade or tax.
02:19President Trump remains skeptical of trade deals.
02:22So will Taiwan's huge investments in the U.S. win him over?
02:26It's one of the many questions weighing on those gathered here for this dinner.
02:30We're all hoping they've been served the ingredients for better economic ties.
02:35Justin Wu and Chris Gorin for Taiwan Plus.