Taiwan to stop buying PNG gas on spot market over 'One China' spat
Taiwan has suspended spot market purchases of liquefied natural gas from Papua New Guinea following a diplomatic dispute over the closure of its trade mission. The move comes after PNG's foreign minister announced the closure of Taiwan's de-facto embassy to align with China's 'One China' policy.
Why it matters
This highlights the ongoing geopolitical pressure China exerts on nations to isolate Taiwan diplomatically and the economic consequences that follow such shifts.
Taiwan says it will stop purchasing Papua New Guinea's liquefied natural gas on the spot market. ( Reuters: David Gray )
Taiwan has suspended some imports of Papua New Guinea's liquid natural gas worth an estimated $800 million amid a diplomatic dispute.
PNG's foreign minister announced earlier this month Taiwan's de-facto embassy in Port Moresby would be shut down in "recognition" of his country's One China policy.
Taiwan's officials have remained in PNG and local authorities have made no moves to force them out.
Link copied Share Share article Taiwan has suspended some liquefied natural gas (LNG) purchases from Papua New Guinea as part of an escalating diplomatic dispute over the future of its representative office in Port Moresby.
But it has backed down from a threat to tear up a major gas contract with the Pacific nation.
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