Japan says close to gas field deal with China

Japan said on Monday it was close to reaching a deal with China on joint development of gas fields in disputed waters, the focus of a long-running spat between the two Asian giants.

Talks are now in the final stages, Japan’s top government spokesman said, amid reports that Tokyo may invest in a gas field being operated by Beijing in the East China Sea.
“I know that the negotiation is now about the final details,” Chief Cabinet Secretary Nobutaka Machimura told reporters, without elaborating.

He was responding to a news report that Japan is considering investing in a major gas field that Tokyo believes crosses the median line between the two nations.

China started drilling in the area in 2003. Japan has previously said that Beijing may be siphoning off what Tokyo considers to be its own gas reserves.

Asia Times