The chief executive of Australia’s Woodside Energy (ASX:WDS) appears to have made a blunder with her comments that the company is open to revisiting a greenfield LNG export development in East Timor. Significantly, the melodrama around the project will likely continue.
Woodside Energy (ASX:WDS) is reconsidering the potential development of Greater Sunrise via an onshore liquefied natural gas (LNG) export terminal in East Timor. This marks a significant about-turn for the Australian LNG developer.
Fast-moving plans for a Santos-led carbon capture and storage (CCS) project at the Bayu Undan field offshore East Timor, that would see the nation import Australia’s waste, have been described as “carbon colonialism” by independent thinktank La'o Hamutuk.
Australian company Timor Resources has spudded the first onshore well in East Timor in more than 50 years as the Southeast Asian nation, also known as Timor Leste, hopes for an oil bonanza.
East Timor, which is considering converting its oil-fired power plants to gas in an effort to slash energy supply costs, estimates it will need about 0.37 million tonnes per year (t/y) of imported liquefied natural gas (LNG).
East Timor is considering building a liquefied natural gas (LNG) import terminal and converting oil-fired power plants to gas in an effort to slash energy supply costs and cut greenhouse gas emissions. The move seems slightly ironic given the country advocated developing an LNG export complex for much of the past decade.