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Breaking! China Just Discovered Mega Trillions In Gas, And This Is Set To Change The World Forever Let’s dive into some exciting news from the world of energy. On August 7, 2024, the China National Offshore Oil Corporation (CNOOC) made a splash with the announcement of a major natural gas discovery in the South China Sea. This find, named the Lingshui 36-1 gas field, is not just any discovery; it’s estimated to hold over 100 billion cubic meters of natural gas. That’s a massive amount, and it could really shake up the energy game for China and beyond. So, where exactly is this gas field located? It’s southeast of Hainan province, sitting at an average depth of about 1,500 meters underwater. Here’s the kicker: the gas layer is only 200 meters below the seabed. This is pretty groundbreaking because experts previously thought it was nearly impossible to find a commercially viable gas field at such shallow depths beneath the ocean floor. But CNOOC has proven them wrong! The company first teased this discovery back in June, but it was only recently confirmed by Chinese authorities. CNOOC’s Chief Geologist, Xu Changgui, shared that this is the world’s first large ultra-deep-water, ultra-shallow gas field. Talk about a game changer! If You Like This Video; Like, Share, Comment And Subscribe. This Means So Much To Us! Thanks For Watching Our Video: Breaking! China Just Discovered Mega Trillions In Gas, And This Is Set To Change The World Forever Let’s dive into some exciting news from the world of energy. On August 7, 2024, the China National Offshore Oil Corporation (CNOOC) made a splash with the announcement of a major natural gas discovery in the South China Sea. This find, named the Lingshui 36-1 gas field, is not just any discovery; it’s estimated to hold over 100 billion cubic meters of natural gas. That’s a massive amount, and it could really shake up the energy game for China and beyond. So, where exactly is this gas field located? It’s southeast of Hainan province, sitting at an average depth of about 1,500 meters underwater. Here’s the kicker: the gas layer is only 200 meters below the seabed. This is pretty groundbreaking because experts previously thought it was nearly impossible to find a commercially viable gas field at such shallow depths beneath the ocean floor. But CNOOC has proven them wrong! The company first teased this discovery back in June, but it was only recently confirmed by Chinese authorities. CNOOC’s Chief Geologist, Xu Changgui, shared that this is the world’s first large ultra-deepwater, ultra-shallow gas field. Talk about a game changer! The field is expected to produce around 10 million cubic meters of natural gas every day. That’s enough to power a small city! Now, let’s talk about why this discovery is so crucial for China. As the world’s largest importer of natural gas, China has been spending a staggering USD 64.3 billion on 120 million tons of liquefied natural gas (LNG) and pipeline gas just last year. With this new gas field, China can significantly reduce its reliance on foreign energy sources. Imagine how much more secure that makes the country feel! The total proved gas reserves in the region have now surpassed 1 trillion cubic meters. That’s right—over a trillion! This is a huge boost for China’s energy strategy, and it’s likely to attract more investment and technical expertise into the region. CNOOC’s CEO, Zhou Xinhuai, highlighted that this discovery is a vital piece of the puzzle in building a trillion-cubic-meter gas area in the South China Sea. But it’s not all smooth sailing. The South China Sea is a hotspot for geopolitical tensions. Countries like Vietnam and Malaysia have overlapping claims in this area, and things can get a bit dicey. Just recently, Chinese coast guard vessels have been reported disrupting Malaysia’s gas projects. And let’s not forget the confrontations between Chinese and Vietnamese vessels over oil drilling in disputed areas like Vanguard Bank. China claims the vast majority of the South China Sea, including waters that other countries also consider theirs. This has led to some serious diplomatic standoffs in the past. Remember 2014 and 2016? China deployed drilling rigs into disputed waters off Vietnam, which sparked outrage and condemnation from various international players. The fact that neighboring countries haven’t protested this latest discovery suggests it might be within China’s internationally recognized Exclusive Economic Zone (EEZ) off Hainan Island. Still, the situation remains delicate, and one can only wonder how this will unfold. More Details In The Video
