Australia names former state leader special envoy for East Timor gas project

SYDNEY, Oct 18 (Reuters) – Australia on Tuesday appointed former Victoria state premier Steve Bracks as its particular consultant for the Higher Dawn gasoline challenge in East Timor as each nations look to interrupt a stalemate over learn how to develop the gasoline fields.

Australia and East Timor haven’t but reached an settlement over whether or not to pipe the gasoline to a brand new liquefied pure gasoline plant (LNG) in East Timor or to an current LNG hub in Darwin in Australia’s north, as favoured by the challenge’s operator, Woodside Power .

“Bracks will symbolize the Australian Authorities and seek the advice of with the Authorities of Timor-Leste and different key stakeholders, together with the Dawn Joint Enterprise,” International Minister Penny Wong mentioned in an announcement.

The 2 fields that make up Higher Dawn had been found within the waters between East Timor and Australia in 1974, holding an estimated 5.1 trillion cubic toes of gasoline and 226 million barrels of condensate, a sort of sunshine crude oil usually discovered with gasoline.

Growth of the challenge was first stalled by a bitter maritime boundary dispute that was resolved in 2018.

Australia needs the event of the challenge commercially viable, supporting the financial development of Timor-Leste and maximising the advantages to all events, Wong mentioned.

Bracks has deep data of East Timor and shut relationship with its folks and leaders because of his shut engagement over a few years, Wong mentioned.

On a go to to Australia final month, President Jose Ramos-Horta urged Canberra to again the pipeline to East Timor and flagged Indonesia, South Korea, Japan and China may change into potential traders in Higher Dawn.

The challenge is essential to Timor’s future as its primary income – the Bayu Undan oil and gasoline subject – will cease producing later this yr, leaving the nation nearly wholly depending on its petroleum fund which at present holds about $18 billion.

Reporting by Renju Jose; Modifying by Lincoln Feast

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