President Marcos expresses joint gas deal with China still possible

President Ferdinand Marcos Jr. said shifts in the Philippines’ relationship with China are already underway, as he expressed openness to pursuing joint gas exploration with Beijing despite ongoing territorial disputes in the South China Sea.

“I think it’s certainly going to happen… there’s going to be a very, very serious restructuring,” Marcos said in an interview with Bloomberg.

He noted that changing geopolitical conditions are expected to usher in a “new normal” in global relations. “This will have a lasting effect. And there will have to be a new normal,” he said.

The President added that Manila and Beijing have long been discussing the possibility of jointly developing gas resources in contested waters “That’s something that we’ve been talking about for a great deal,” he said. “But the territorial disputes will get in the way of that,” he added.

Marcos said the current global environment may encourage both countries to work toward a compromise. “Maybe this should provide impetus for both sides to come to an agreement,” he said.

Despite tensions at sea, he emphasized that the Philippines continues to engage China economically. “We’ve always tried to differentiate the territorial disputes from our trade arrangements,” he said.

He also pointed out that China remains a major partner in terms of investments and essential imports, including fertilizers needed by the agriculture sector.

“They have not used this… they haven’t leveraged this in any way,” he said.

Marcos further said the evolving global landscape could push countries to revisit existing agreements and frameworks.

He raised the possibility of adjusting legal and diplomatic structures as shifting alliances reshape the international order.

The President said these developments may leave a lasting impact on global relations as nations adapt to changing geopolitical realities.