Timor-Leste’s Ministry of Petroleum and Mineral Resources and Woodside Energy have signed a cooperation agreement to advance studies for a Timor-based liquefied natural gas (LNG) development concept for the long-stalled Greater Sunrise fields.
The agreement covers commercial and technical work on a greenfield LNG plant with capacity of about 5 million tonnes per annum, including a domestic gas facility and a helium extraction unit.
The studies will run alongside ongoing negotiations on fiscal, regulatory and legal frameworks between the Sunrise joint venture and the governments of Timor-Leste and Australia.
A high-level plan outlines the steps needed to mature the option, with first LNG possible as early as 2032–2035, subject to concept selection and investment approval.
“The Timor LNG 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 to take the project forward and to make our vision for Greater Sunrise a reality,” said Francisco da Costa Monteiro, Timor-Leste’s Minister of Petroleum and Mineral Resources.
“This work is an extension of last year’s concept study and will address the remaining considerations required to reach concept selection, such as agreeing the most appropriate downstream commercial structure to attract financing and understanding the preferred route of the gas export pipeline,” added Meg O’Neill, Woodside CEO.
The Greater Sunrise fields, located in the Timor Sea, are among the region’s largest undeveloped gas resources and have been the subject of negotiations for decades.
Subscribe
