China in US$5b drive to develop disputed East China Sea gas

Chinese state-run oil companies hope to develop seven new gas fields in the East China Sea, possibly siphoning gas from the seabed beneath waters claimed by Japan, a move that could further inflame tensions with Tokyo over the disputed area.

Beijing had slowed exploration in the energy-rich East China Sea, one of Asia’s biggest security risks due to competing territorial claims, but is now rapidly expanding its hunt for gas, a cheaper and cleaner energy to coal and oil imports.

via Business feed http://www.scmp.com/business/commodities/article/1284750/china-us5b-drive-develop-disputed-east-china-sea-gas