Fast Market Research recommends "Taiwan Oil & Gas Report Q3 2014" from Business Monitor International, now available

Boston, MA -- (ReleaseWire) -- 06/02/2014 --BMI View: Taiwan is almost entirely dependent on imports to meet energy demand and is likely to stay in this state for the foreseeable future. A growing appetite for imported gas has created a need for fresh liquefied natural gas (LNG) supplies. This creates opportunities for potential LNG sellers, though US supplies are likely to be favoured for their lower prices.

The main trends and developments we highlight in the Taiwanese o il and g as sector are:

- Exploration prospects remain relatively poor and no change is expected over the short-to-medium term. However, deepwater exploration is taking place off the south-western coast that could shore up its small resource base following a joint venture agreement between CPC and Husky Energy signed in December 2012.
- Like Japan and China, Taiwan is also looking into its methane hydrates prospects, though large-scale commercial production is not likely to take place within our forecast period.
- Taiwan is a marginal oil producer. With no significant oil discoveries to be developed and with limited exploration planned in the near future, we expect crude oil, NGL and other liquids production to remain stable at around 1,660-1,700 barrels per day (b/d) until the end of our forecast period in 2014, with limited upside risk to this forecast.
- Despite a relatively healthy economy, we expect consumption growth to be slightly subdued with governmental plans to increase gas-fired power generation capacity, renewables and various policies aiming at increasing energy efficiency. Our forecast for crude oil consumption is for an increase from a planned 1.09mn b/d in 2013, to around 1.13mn b/d in 2018 and to 1.16mn b/d by 2023.
- Taiwan is a marginal gas producer. Production has improved slightly to about 0.34bcm in 2013, but we expect growth to be stagnant in the medium term to reach about 0.35bcm in 2018 and for output to trend downwards in the longer term to return to about 0.31bcm by 2023.
- The Ministry of Economics...

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The Taiwan Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Taiwan including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Taiwan Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Taiwanese oil and gas industry.

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