
Taiwan's CPC denies 'specific' US shale gas acquisition talks
CPC (CHIP.UL) is in early stage discussions to buy shale-gas producing assets in the United States, three sources familiar with the matter told Reuters earlier this month, in a bid to secure natural gas supplies to fuel Taiwan's economy.
In a statement late on Monday, CPC said U.S. shale gas has long been an important target area for the company because of its high quality, mature extraction technology and favourable investment environment.
"CPC will not rule out any prospective partners and will make the most favourable decision based on the evaluation results," it said.
"As for reports that CPC is in the process of discussing the acquisition of specific shale gas fields in the United States, that is not true," the company added, without elaboration.
Taiwan has pledged to increase its purchase of energy from the United States as a way of reducing its yawning trade surplus and head off tariffs.
In March, CPC signed an agreement with Alaska Gasline Development Corp to buy LNG and invest in the Alaska LNG project which will transport gas south from Alaska's remote north via pipeline, to be shipped as LNG to Taiwan, Japan and South Korea.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
22 minutes ago
- Reuters
Chipotle tempers sales expectation as dining out slows; shares drop
July 23 (Reuters) - Chipotle Mexican Grill (CMG.N), opens new tab on Wednesday lowered its annual sales growth target for a second time this year as economic uncertainty prompts cash-strapped Americans to dine out less, sending the burrito chain's shares down 9.5% after hours. The company also posted a bigger-than-expected decline in comparable sales for the second quarter. A significant rise in menu prices has pressured dining out in the United States for several quarters now, forcing consumers to prepare meals at home to stretch their budgets. Companies are also taking stock of President Donald Trump's tariff policy which could lead to higher supply chain costs. While Chipotle has focused on expanding store count with the expectation that its affordable and popular Tex-Mex cuisine can defy broader weakness in dining out, visits per location fell about 6% in the second quarter, while the wider fast casual segment remained flat, data from showed. Chipotle now expects annual comparable restaurant sales to be about flat year-over-year, compared with its prior target of growth in the low single-digit range. It reported a 4% fall in comparable sales for the quarter ended June 30, compared with analysts' estimates for a 2.86% decline, per data compiled by LSEG.


Reuters
22 minutes ago
- Reuters
Chipotle Mexican Grill cuts annual comparable sales growth target, shares drop
July 23 (Reuters) - Chipotle Mexican Grill (CMG.N), opens new tab on Wednesday lowered its annual sales growth target for a second time this year, as the burrito chain takes stock of economic uncertainty and U.S. consumers dining out less. Its shares were down 7% in extended trading. They have fallen about 13% so far this year. Dining out in the United States has been under pressure over the past several quarters due to a significant rise in menu prices, prompting consumers to prepare meals at home to stretch their budgets. President Donald Trump's tariff policy could drive prices even higher as companies face the prospect of higher supply chain costs. Chipotle now expects annual comparable restaurant sales to be about flat year-over-year, compared with its prior target of growth in the low single-digit range.


Reuters
an hour ago
- Reuters
Tesla starts production of more affordable model
July 23 (Reuters) - Tesla (TSLA.O), opens new tab says it has started initial production of a more affordable model and expects volume production in the second half of the year.