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Https://www.afr.com/world/pacific/china-bolsters-ties-with-gas-rich-timor-leste-20230924-p5e74v
Full text of the announcement-
https://english.news.cn/20230923/1875e6d9e27f40bb961b234acd935c60/c.html
It’s on Reuters now too - big news!
https://www.reuters.com/world/asia-pacific/china-resource-rich-east-timor-upgrade-bilateral-ties-2023-09-23/
Https://x.com/sasbites/status/1705070554632659178?s=46&t=fS2quUGAKQt7ttmiz8vmFw
Https://en.tatoli.tl/2023/09/20/prime-minister-gusmao-and-president-xi-jinping-to-discuss-bilateral-cooperation-in-china/16/
Wonder if Greater Sunrise will be on the agenda?
Looks like GS negotiations have been brought forward to next month, from June 24....
MINISTRY OF PETROLEUM AND MINERAL RESOURCES, FRANCISCO DA COSTA MONTEIRO, DISCUSSES FUTURE OF GREATER SUNRISE PROJECT WITH HON STEVE BRACKS, AUSTRALIA'S SPECIAL REPRESENTATIVE
September 19, 2023
His Excellency Francisco da Costa Monteiro, Minister for Petroleum and Mineral Resources of Timor-Leste, engaged in a productive meeting with Hon Steve Bracks, the Australian Government's Special Representative for the Greater Sunrise project. This pivotal meeting not only served to strengthen the diplomatic and economic relations between Timor-Leste and Australia but also provided a focused platform for discussing the forward momentum of the Greater Sunrise project.
Hon Steve Bracks praised Minister Monteiro, stating, "Very productive meeting with the Minister; this Minister is a breath of fresh air. He is going to be such a great benefit to the people of Timor-Leste." The Australian Government recognizes the immense importance of the Greater Sunrise project for the people of Timor-Leste and is keen on expedited procedures to get the project up and running as soon as possible.
During the meeting, Minister Monteiro outlined that discussions focused mainly on the Greater Sunrise initiative, with plans to resume negotiations in October. Three key documents are essential for progress, finalizing the Petroleum Minding Code (PMC), Tax regime and the Production Sharing Contract (PSC), to this will be obtain through the support from both the Australian and Timor-Leste governments as well as TIMOR GAP, the National Oil Company of Timor-Leste, to conclude these agreements.
The Minister also touched upon the importance of the Select Concept Study, an assessment necessary for building trust and ensuring transparency among all involved parties, encouraging open discussions of all options and responsibilities to come to a conclusion and solution for the development of the Greater Sunrise project. The Minister is of the view that Timor-Leste would most benefit from developing the downstream sector via a pipeline and LNG plant in the country. Further discussions on this matter are planned with Hon Steve Bracks, the Australian Government's representative, along with Woodside and the joint venture partners.
The Minister of Petroleum and Mineral Resources is optimistic that this productive dialogue will serve as a foundation for future collaboration between Timor-Leste and Australia, leading to the successful implementation of the Greater Sunrise project for the benefit of both nations, in particularly to the people of Timor-Leste.
END
https://www.facebook.com/profile.php?id=100094730889338
TL are going to have to come up with something creative to avoid falling off their fiscal cliff. It takes 3-5 years to build an LNG plant and in the case of TL where its a virgin site with little local supporting industry, I suspect it will take 5+ years. They haven't agreed anything yet, so lets say its agreed June 2024 and it takes 12 months of planning before any work commences, it could be June 2030 before Beaco is operational. Are they really going to cut it that fine? Or are they going to allow Chuditch to FLNG and get some early revenue into the coffers (and help pay for Beaco...)?
Boil has said that Chuditch is not dependent on Greater Sunrise. The longer the Greater Sunrise saga rumbles on, the closer Timor Leste will get to their self inflicted fiscal cliff. Bayu Undan accounted for 90% of TL’s income. We are rapidly approaching a point by which they won’t be able to get Greater Sunrise and their desired LNG plant generating revenue before the wealth fund runs out of money. Chuditch could be up and running with an FLNG platform before the fiscal cliff occurs providing TL with revenue, so the longer GS is delayed, the more likely Chuditch could be used to fill the Gap…
Have you got the link to these please filthy?
Ties in with the fact that Gusmso is visiting China next week…
https://x.com/stephendziedzic/status/1702570900946919562?s=46&t=fS2quUGAKQt7ttmiz8vmFw