East Timor to become an oil hub
23.06.2010
East Timor, opposed to Woodside Petroleum's plan to develop the Sunrise gas project using a floating plant, has said it proposes a US$3.8 billion
oil and gas development hub on its southern coast.
Negotiations with Australia over the venture in the Timor Sea were continuing, Government spokesman Agio Pereira said.
The southeast Asian nation said it expected to put forward its plan later this year.
Timor Leste (1) -- Analyses -- 2010
Australia and East Timor in oil cooperation
23.06.2010
Australia's second-largest oil and gas producer and its partners, including Royal Dutch Shell, have opted to rely on floating liquefied natural gas technology
for the development, saying that it will deliver the most revenue to both Australia and East Timor.
The Government of East Timor objects to any plan that does not include a gas-processing plant in the country.
Woodside had fulfilled all obligations governing the Sunrise project, the Perth-based producer said this month.
The company said it ruled out piping the gas to East Timor because it was more expensive and that floating LNG was the best commercial option.
Australia has 400 personnel stationed in the fledgling nation as part of the International Stabilisation Force which is supporting the United Nations to maintain stability.
Bulgarian