Australia's Woodside Energy and East Timor have agreed to study sending gas from the large, undeveloped Greater Sunrise fields to a new liquefied natural gas plant…
Australia's Woodside Energy and East Timor have agreed to study sending gas from the large, undeveloped Greater Sunrise fields to a new liquefied natural gas plant in the Southeast Asian nation that could start exporting in the next seven years.
The agreement calls for the two sides to study the commercial and technical viability of a 5-million-metric-ton project, with a high-level plan to start producing LNG as early as 2032-2035, Woodside and East Timor's petroleum and mineral resources ministry said in a joint statement on Tuesday.
That marks the first time the two sides, long at loggerheads over development of the fields, which lie between East Timor and Australia, have outlined a potential start-up date.
"The TLNG project presents the best economic, social, and strategic benefits for the people of Timor-Leste, and we are committed to working constructively with Woodside, the Greater Sunrise joint venture and other parties,” said East Timor's Petroleum and Mineral Resources Minister, Francisco da Costa Monteiro.
The project would include a domestic gas plant and a helium extraction plant. Helium commands a high premium owing to its scarcity and use in the semiconductor industry.
Woodside CEO Meg O’Neill said the agreement would address remaining issues such as
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