Japan has announced an agreement with China on joint development of 2 gas fields in the East China Sea, near the median line between the 2 countries' exclusive economic zones.
Japan's Foreign Minister Masahiko Koumura and trade and industry minister Akira Amari made the announcement in Tokyo on Wednesday evening.
One site is the Shirakaba gas field, called Chunxiao in Chinese. It lies on the Chinese side of the median
line, and it has already been developed by a Chinese company.
Under the bilateral deal, Japan would invest in this company, and receive profits distributed by ratio of
investment, based on Chinese law.
Also targeted for joint development are waters south of the Asunaro gas field, called Longjing in Chinese. This
site, which covers 2,700 square kilometers, straddles the median line.
Japan and China would each provide half the cost of resource assessment in these waters, and evenly share any profits that come out of it.
The 2 governments plan to draw up and sign a treaty based on this agreement as soon as possible. They will also continue talks on possible joint development in other areas of the East China Sea.
Koumura said the deal benefits both sides, and sets a good example, showing that Japan and China can resolve any problem through talks. Amari expressed hope that the East China Sea would become not only a symbol of peace, cooperation and friendship, but also a key source of energy for both countries.
China's Foreign Ministry has called the gas deal with Japan an important step in making the East China Sea a
symbol of peace, cooperation and friendship.
Foreign Ministry spokeswoman Jiang Yu announced the deal on Wednesday.
She said Japan and China have taken their first step toward joint exploration by choosing an appropriate part of the sea so as not to undermine their respective legal positions in a transition period before determining their
borders in the waters.
She also said the deal will help promote peace and stability in the East China Sea, encourage further
development of bilateral relations, and serve the national interests of both Japan and China.
2008/06/18 20:34
In spite of the inside of the territorial waters in Japan, Japan has taken a remarkable delay to gas field development. Japan lags behind also overseas resource acquisition. Japan does not have a resource strategy.