South China Sea: Philippines urged to explore gas reserves, or risk losing them to Beijing

Manila faces a critical decision: exploit its natural gas reserves in the Reed Bank, a potential flashpoint with China, or risk losing them to Beijing

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The Philippines faces a critical decision: exploit its vast natural gas reserves in the Reed Bank, a potential flashpoint with China, or risk losing them to Beijing. Photo: Shutterstock

Published: 6:00pm, 13 Sep 2024

The Philippines is being urged to expand gas exploration within its section of the South China Sea as its main natural gas field nears depletion, with influential retired Supreme Court Justice Antonio Carpio warning the government to act swiftly before Beijing does.

“This is actually a battle of who can get the natural resources because the exclusive economic zone (EEZ) is about exploitation of natural resources, and we are running out of gas in Malampaya,” Carpio told ABS-CBN News on Wednesday.

Malampaya, the country’s largest natural gas field, is in Palawan, a province facing the South China Sea.

Last year, President Ferdinand Marcos Jnr signed a 15-year contract extension to drill a new well in the field. The Asia Pacific Energy Research Centre’s 2023 report warned that Malampaya is expected to be depleted by 2027.

“The only replacement is the Reed Bank, and we have to start developing now,” Carpio said.

According to a 2023 United States Energy Information Administration report, the Reed Bank, located northeast of the Spratly Islands, could hold up to 5.4 billion barrels of oil and 55.1 trillion cubic feet of natural gas.