South China Sea Exploration A Distant Dream, As Maritime Tensions Flare

摘要

Tensions in the South China Sea (SCS) are faring up amid increasing reports of Chinese survey vessels and armed escorts sailing into the exclusive economic zones (EEZ) of regional neighbours. In addition to being a vital trade route in the global supply chain, one of the main lures of the SCS is its promise of hydrocarbon riches. However, eforts to defuse tensions in the disputed waters have achieved little to date, and we see minimal scope for a major breakthrough in tensions over the coming years. For Asia’s oil and gas producers, some of which are burdened by chronic declines in production of oil and gas, and in turn, prospect of rising import bill, this is a signifcant concern.