Exploitation of seabed oil and gas resources is
one of several major contentious issues complicating the tense East Sea (known
as South China Sea internationally) situation, a retired US diplomat said at an
international conference held at Ton Duc Thang University in Ho Chi Minh City
over the weekend.
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A Vietnamese people's naval
soldier in Truong Sa archipelago
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David Brown, an independent researcher, citing
US Energy Information Administration data, said that oil and gas resources in
the East Sea were equivalent to 11 billion barrels of oil and 190 trillion
cubic feet of gas.
However, in November 2012, the China National
Offshore Oil Company estimated that the area holds even more, about 125 billion
barrels of oil and 500 trillion cubic feet of natural gas in undiscovered
resources.
China, which faces an increasing demand for oil
and gas, consumed 3.5 billion barrels of oil in 2011.
By 2035, China's demand for oil and other liquid
fuels is expected to grow by 70 percent to six billion barrels annually and
will be slightly greater than the US, according to British Petroleum's (BP)
annual statistical review.
In 1993, China became a net importer of oil. In
2012, China imported about 57 percent of the 3.5 billion barrels of oil that
its economy needed. By 2040, it is expected to source more than 70 percent of
its oil and about 40 percent of its gas from abroad.
Brown said he was pessimistic about an agreement
on seabed hydrocarbons among claimants, as China has refused to enter into
discussions. However, he said there had been successful sharing of seabed oil
and gas in disputed territory in the region.
This approach would have a chance if China's
aggressive behaviour was not aimed at getting control over maritime territory
but rather at only getting preferred access to the resources of the seabed,
said Brown.
Vietnam, Philippines, Brunei and Malaysia should
give China first option to purchase any hydrocarbons offered for sale on the
world market, he said.
Carlyle A. Thayer, of the Australian Defense
Force Academy, told delegates that Vietnam had tried its best to negotiate with
China through dialogue, but to no avail.
Thayer suggested that ASEAN should negotiate
with China over the issue, calling for ASEAN members to unite in this issue,
noting that some ASEAN members had taken a neutral position.
He also said that ASEAN should establish a
marine police force and security council.
Le Vinh Truong, of the Southeast Asia Sea
Research Foundation, suggested that Vietnam rely on international regulations
to deal with the dispute.
He said he supported the solution of filing a
lawsuit against China in international court.
However, Irena Chan, of the S. Rajaratnam School
of International Studies in Singapore, said she was not confident about relying
on the UN Security Council. China is a standing member of the council.
Several people believe that the UN can deal with
the issue, but the role of the UN should be examined, Chan said.
Because it takes much time to lodge a lawsuit
against China, members of ASEAN should create a stronger union to face China,
she added.
Chan agreed with Truong's opinion that filing a
lawsuit against China would not greatly impact Vietnam's economy.
She said that trade between the Philippines and
China had increased recently although the Philippines had filed a lawsuit
against China.
Source: VNA
