Related Articles
Forward article link
Share PDF with colleagues

Bad news for Timor-Leste as Woodside shelves Sunrise LNG project

The Asian nation relies on petroleum exports for its economy but could see its wells dry within a few years

The news that Australia’s Woodside Petroleum will shelve the proposed Greater Sunrise liquefied natural gas (LNG) export project does not bode well for the impoverished nation of Timor-Leste.Timor-Leste, which is heavily dependent on petroleum exports – more than every nation except South Sudan, Libya and perhaps Equatorial Guinea – could see its existing wells run dry within five years. And that means petroleum revenue would dry up, exacerbating the desperately poor country’s problems. Of course, there is the 5.1 trillion cubic feet Woodside-operated Greater Sunrise field, which straddles Australian and Timorese waters, but that looks set to remain in limbo until at least the next decade.

Also in this section
Venezuela going for broke
16 January 2018
The Maduro government wants a new deal on its debt. Things are going to get messy
Iraqi Kurdistan sinking fast
11 January 2018
The future of the KRI's oil sector is uncertain, with the federal government determined to bring all the country's production and exports back under its wing
Iraqi Kurdistan's wrong turn
11 January 2018
Burdened by political and economic crises at home, the autonomous region faces difficult talks with a newly confident federal government in Baghdad