Antwort auf Beitrag Nr.:
41.889.021 von hainholz am 04.08.11
Chinese 'pressure tactics' pose risks to
investors - report
By Alexis Romero (The Philippine Star) Updated August 05, 2011
MANILA, Philippines - China’s “pressure tactics” pose risks to
firms having interests in the West Philippine Sea (South China Sea)
and could hinder the development of the Philippines’ oil and gas
reserves in the region, according to a multinational risk
In a report released to its clients last July 28, Pacific
Strategies & Assessments (PSA) said the tensions in the
Spratlys indicate that investors would likely face “serious and
costly risks” in their operations.
“While the possibility of a high-level military conflict in the
region remains remote in the future, Chinese pressure tactics have
shown that the risks faced by non-state oil and gas investors in
the South China Sea (SCS) will clearly not be limited to armed
conflict in the region,” it said.
PSA, whose clients include multinational firms and embassies, said
a prolonged territorial dispute would be the primary hindrance to
the development of oil and gas reserves in the region.
“Past and recent developments in the SCS have underscored that a
protracted multilateral territorial dispute would be the foremost
stumbling block in efforts to commercially develop the oil and gas
reserves in the region,” it added.
The Philippines, China, Brunei, Malaysia, Vietnam and Taiwan are
claiming parts of the Spratly Islands in the West Philippine
“Notwithstanding the opportunities in the oil and gas sector, the
commitment of Philippine government policies and support vacillate
depending on the priorities of the incumbent administration,” the
“This adds to the risks for potential and current oil and gas
investors in the Philippines. China, for its part, is expected to
maintain its pressure on oil and gas investors in the region,” it
PSA, nevertheless, said the Aquino administration had indicated a
serious stand to support the gas and oil potentials of the
It noted that the government has prodded British firm Forum Energy
into exploring Service Contract 72 that includes the Recto Bank
(Reed Bank) off Palawan.
PSA, which has offices in Manila, Hong Kong, Shanghai, Beijing,
Bangkok, Milwaukee and Sydney, said surveys on SC 72 alone showed
96 billion cubic meters of natural gas potential and 440 million
barrels of oil potential.
“The figures are greater than the natural gas reserves of the
$130-billion Malampaya project, also in Palawan, as well as the oil
reserves in Thailand,” it said.
PSA said the possibility of earning twice the amount from the
combined Malampaya project and SC 72 is expected to be a major
motivation for the Philippines to remain committed to its
The report noted that the Philippines is heavily dependent on oil
imports from the Middle East, with about 90 percent of its oil
imports coming from the region.
“The potential oil and natural gas reserves in the South China Sea
could prove to be significant in reducing the country’s dependence
on Middle East oil,” PSA said.
The Philippines has expressed readiness to bring the territorial
dispute in accordance with international law before the United
Nations. China, however, said the issue should be resolved through
direct negotiations among claimant countries.