Rapid Fire
China's Major Gas Field Discovery in the South China Sea
- 10 Aug 2024
- 1 min read
China has announced the discovery of the Lingshui 36-1 gas field in the South China Sea, marking it as the world’s first large, ultra-shallow gas field in ultra-deep waters. This significant find could intensify the already existing geopolitical tensions in the region.
- The Lingshui 36-1 gas field is estimated to contain over 100 billion cubic meters of natural gas, positioning it as a substantial resource in the South China Sea.
- As the world's largest natural gas importer, spending approximately USD 64.3 billion on gas in 2023, China aims to enhance its energy security with this discovery.
- The South China Sea's combined original gas in place (OGIP) exceeds 1 trillion cubic metres, emphasizing its critical role in global energy resources.
- The South China Sea is contested by the Philippines, Vietnam, Malaysia, Brunei, and Taiwan against China's claims.
- Past incidents, like the 2014 Vietnam protests over China's oil rig, show the diplomatic issues related to resource development. The United States, European Union, Japan, and allies support the smaller nations’ claims, increasing regional tensions.
