Russia formally stakes claim to North Pole and vast Arctic expanse

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A titanium capsule with the Russian flag is seen seconds after it was planted by the Mir-1 mini submarine on the Arctic Ocean seabed under the North Pole in 2007. Photo: AP

 

Moscow: Russia formally staked a claim on Tuesday to a vast area of the Arctic Ocean, including the North Pole.

If the Commission on the Limits of the Continental Shelf, the UN commission that arbitrates sea boundaries accepts Russia’s claim, the waters will be subject to Moscow’s oversight on economic matters, including fishing and oil and gas drilling. However, Russia will not have full sovereignty. Continue reading

China in $5 bn drive to develop disputed East China Sea gas

These Chinese ‘geologists’ could also very likely be understating the true significance and size of the deposits. The state-run oil companies do the bidding of the CCP. Today’s CCP is still rooted in ancient Chinese history and follows the philosophy of Sun Tzu, therefore appearing weak when strong, and applying this method to any given situation. The territory dispute is another story. However, in hindsight, the Chinese wouldn’t be trying so hard to acquire this field given the fact that the deposit size will only contribute a fraction of the gas output they need.

BEIJING: 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. Continue reading

Japan becomes first nation to extract ‘frozen gas’ from seabed

Japan has successfully extracted natural gas from frozen methane hydrate deposits under the sea, in the first example of production of the gas offshore, officials said on Tuesday.

The Ministry of Economy, Trade and Industry showed what it said was gas flaming from a pipe at the project in the Pacific Ocean 80 kilometres (50 miles) off the coast of central Japan. The breakthrough could be a step toward eventual commercial production, though the costs of extracting gas from the seabed are much higher than for other forms of production. Continue reading