Stories
Superpowers Race For Vietnam Oil And Gas Treasure As China Acts Out
N
News18•09-10-2026, 23:41
Superpowers Race For Vietnam Oil And Gas Treasure As China Acts Out
- •Superpowers like the US, Japan, and Russia are fiercely racing to extract vast oil and natural gas reserves in Vietnam's waters in the South China Sea.
- •Japan's Idemitsu Kosan operates the massive Sao Vang-Dai Nguyet platform, producing 4 million cubic meters of gas daily despite high drilling risks.
- •China continues its aggressive behavior and intimidation tactics near its unilateral nine-dash line, frequently sending suspicious ships to harass operations.
- •Major global energy players including US giants ExxonMobil and Murphy Oil, Japan's Mitsui, and Russia's Zarubezhneft are heavily investing in Vietnam's offshore projects.
- •With soaring electricity demand and global LNG market volatility, Vietnam relies on these deep-sea energy projects to secure its economic future.
Key Questions Answered
Superpowers like the US, Japan, and Russia are fiercely competing to extract the immense oil and natural gas treasures hidden in the South China Sea near Vietnam.
Japan's Idemitsu Kosan company operates the massive Central Processing Platform located about 350 kilometers off Vietnam's southern coast, which began extracting 4 million cubic meters of gas daily starting in 2020.
Vietnam is exploring its own offshore gas reserves to meet skyrocketing domestic electricity demand and reduce the high risks and overnight price spikes associated with importing LNG from abroad due to Middle East tensions.
