Sep 26, 2022
Development of the Greater Sunrise gas and condensate fields, first discovered in the Timor Sea in 1974, has been stalled for decades. With a maritime border dispute between the Southeast Asian island country of Timor-Leste and Australia solved, the project continues to be held up over a disagreement on whether the gas should be piped to Timor-Leste or Australia for processing and eventual export.
The head of Timor-Leste’s national oil company recently came to Washington to garner both technical expertise and strategic support from US policymakers. While in town, Timor Gap President and CEO Antonio de Sousa joined the podcast to share his hardline position that gas from Greater Sunrise must be pumped to Timor-Leste; his optimism that a path forward is within reach, as a deadline has been set to finalize a legal framework and production sharing contract for the offshore project; and his outlook for future growth in the LNG market.
Stick around after the interview for Starr Spencer with the Market Minute, a look at near-term oil market drivers.