Thailand Eyes $300 Billion Gas Field Frozen by Cambodia Dispute.

Thailand's new government plans to restart negotiations with Cambodia over an offshore oil and gas field that has been the subject of dispute since the 1970s. The field is estimated to hold at least $300 billion worth of reserves. Thailand aims to boost its dwindling reserves, contain electricity prices, and reduce fuel imports. Negotiations have stalled in the past due to territorial claims, but there is hope that the urgency of declining gas production and the need for fossil fuel alternatives will lead to a breakthrough. Both countries have proposed revenue sharing models, and Thai companies are expected to benefit the most from any agreement. Cambodia, which relies heavily on foreign fuel, is less motivated to rush negotiations. Some critics argue that Thailand should resolve the territorial dispute before discussing commercial exploration. [Extracted from the article]