Philippines discovers new gas deposit near disputed South China Sea

Philippine President Ferdinand Marcos Jr. has announced the discovery of a new natural gas deposit near the disputed South China Sea. The find could shield the country from a potential power crisis. Marcos said Monday the new gas reservoir northwest off Palawan province could eventually supply power to more than 5.7 million households annually. The undersea reservoir is estimated to contain about 98 billion cubic feet of gas. Initial tests show 60 million cubic feet of gas could be extracted each day from the well. Marcos did not say when commercial production could start.