Investors needed in Cambodia and Vietnam

Both countries need investment to arrest declining domestic output and plug an impending supply gap—opportunities for China and LNG

China looks like dominating foreign investment in Cambodia's fledgling oil and gas industry as the capital-hungry Southeast Asian nation sets out to develop its own offshore industry over the next few years. Most recently, Great Wall International Engineering, a division of state-owned China National Petroleum Corporation, signed a contract in May to build the first phase of a $1.6bn refinery in Kampot and Preah Sihanouk provinces that is slated to process 7m tonnes a year, or 140,000 barrels per day, of crude by 2022. Its joint venture partner will be another Chinese company, Sinomach. Much of the raw material will probably come from Block A in the Gulf of Thailand, which is crucial to Camb