China aims to produce 15 billion cubic meters (bcm) of natural gas a year from the South China Sea by 2015, amid escalating territory disputes in the region between China and neighboring countries.
In a report titled “Natural Gas Development 12th Five-Year Plan” the National Energy Administration said the South China Sea is China's “major gas producing area" and forms main part of the gas exploration plans, Reuters has reported.
China is sparring with several neighbors over its claim on South China Sea, which is rich in oil and gas. China claims the entire South China Sea as its territory while neighbors including Philippines, Taiwan, Vietnam, Brunei and Malaysia lay claim over parts of the sea.
The Energy Commission said that natural gas production in 2010 was 948 million cubic meters and the total offshore output is expected to reach 20 bcm by 2015, of which South China Sea will account for 15 bcm.
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Reported by IBTimes 16 hours ago.
In a report titled “Natural Gas Development 12th Five-Year Plan” the National Energy Administration said the South China Sea is China's “major gas producing area" and forms main part of the gas exploration plans, Reuters has reported.
China is sparring with several neighbors over its claim on South China Sea, which is rich in oil and gas. China claims the entire South China Sea as its territory while neighbors including Philippines, Taiwan, Vietnam, Brunei and Malaysia lay claim over parts of the sea.
The Energy Commission said that natural gas production in 2010 was 948 million cubic meters and the total offshore output is expected to reach 20 bcm by 2015, of which South China Sea will account for 15 bcm.
Read More on International Business Times
Reported by IBTimes 16 hours ago.