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Red Bank – a disputed area in the South China Sea is believed to be Gas rich and oil It can become a future hot point for confrontation and conflicts between China and the Philippines, especially if Manila moved forward with unilateral exploration of resources as part of the energy security endeavor, according to analysts.
However, they added that the limited development capacity in Manila, the upcoming elections in the middle of the period in the Philippines, other geopolitical deviations in Washington, and the evaluation of accurate risks by multinational companies can delay the appearance of a Red bank as a flash point in the disputed waterway.
Red Bank, known as Liwa Tan, at the Chinese Bank and Meroto in the Philippines, is the formation of underwater coral reefs about 157 km (98 miles) from the coast of Paluan in the Philippines. It is northeast Spratley IslandsAnd known as the Nanasha Islands in China, a disputed archipelago in the South China Sea demanded by Beijing and Manila.
Up to 5.4 billion barrels of oil and 1.56 trillion cubic meters (55.1 trillion cubic feet) of natural gas under the waters of the Bank Reed, according to a report issued by the US Energy Information Administration for the year 2013.
These resources are still largely exploited. China and the Philippines It sought to develop it jointly, but the exploration was suspended for years due to the tensions between the neighbors.
Chen Xianjiao, a research colleague at the National Institute for South China Sea Studies, said that after the elections of the Filipino period in May, it was possible that the Philippine President would be the Philippine President Ferdinand Marcus JNR Oil and gas exploration will be used around Red as a “Trump Card” to restore public support.