DILI:  , Timor-Leste President Jose Ramos-Horta said on Wednesday ( Sep 11 ) that a deal with Australia on a vast fossil fuel project seen as crucial to the tiny nation’s economic future will be struck by November.
The Nobel-winning president told AFP that a deal on the Greater Sunrise project, which aims to tap billions of square feet of natural gas, may be signed within days.
Due to disputes over maritime boundaries and whether the oil may be refined in Australia or Timor-Leste, investigation has been stalled at the task, which is located in waters between the neighboring countries for decades.
” We will shortly sign a contract with Australia to develop Greater Sunrise. A decision will be made to produce the huge gas industry”, he said.
” The contract should be signed not afterwards than November, perhaps. It will be signed this month”.
Asia’s youngest state, which secured democracy in 2002, is trying to shore up the future of its budding business, which is heavily dependant on oil and gas reserves.
” China needs it, Japan, South Korea, they need it”, Ramos-Horta said of Greater Sunrise.
However, he claimed that both governments ‘ decisions regarding whether assets may be piped to Timor-Leste or Australia would still be based on an independent research.
” Why should it come to Charles”? he said.
In an investor call last month, project manager Woodside Energy said” We have a lot of work to do,” and that Sunrise has a lot of complexity.
When there were now greater concerns about Beijing’s growing regional effect, American officials were concerned that China might be able to finance the project.
That includes Timor-Leste, which sits a few hundred miles off Australia’s north beach.
Ramos-Horta said in a wide-ranging meeting that ties with Canberra, anxious for decades over a spying incident that became common in 2018, have been delete.
” The badgering was cruel. But… every state, they bug everyone else”, he said.
” But now we have great relationships with Australia. Australia is a true companion, a wonderful friend”.