East Timor seeks new partners for gas field after Woodside exit
WDS•East Timor is seeking a new operator for the Greater Sunrise gas fields after agreeing to pay $200 million for Woodside Energy’s 33% stake. It aims to develop a 5 million metric tons per year LNG project, with first gas targeted for 2034.
1. Operator search
East Timor is seeking an internationally recognised operator and developer for the Greater Sunrise gas fields after Woodside Energy’s planned exit. The country will pay $200 million for Woodside’s 33% stake, ending a partnership marked by disagreement over whether to pipe gas to Darwin, Australia, or East Timor’s south coast.
2. Project plans
East Timor wants to develop the fields as a 5 million metric tons per year LNG project at Natarbora on the southern coast, serving Asian customers. Strategic adviser Eric H. Namtvedt said Middle Eastern and Japanese companies had expressed interest, and that infrastructure funding could come from the World Bank or its International Finance Corporation. First gas is targeted for 2034.
3. Undeveloped reserves
The fields, discovered in 1974, are estimated to hold 5.1 trillion cubic feet of gas and 226 million barrels of condensate. Timor Gap agreed last month to buy Osaka Gas’s 10% interest, but Namtvedt said it is not intended to remain the sole upstream operator.
