-- CPC wins Taiwan Power LNG supply contract, plans terminals for 2004
Taiwan's state-owned Chinese Petroleum Corp (CPC) has won a contract to supply 1.7 million tonnes/year of LNG to the Taiwan Power Co.'s Tatan plant. CPC's winning bid of $298.2 billion (Twn.) or $8.65 billion (US) for the 25-year contract that begins in 2008 took industry watchers by surprise, as it was nearly 25% below the $400 billion (Twn.) or $11.6 billion (US) floor price Taipower set and 6% lower than the next lowest bid.