Greater Sunrise development could be years away
The government of Timor-Leste continues to launch daggers at all things Woodside over development of Greater Sunrise. This from a government press release:
In grandiose platforming at the UBS Resources Conference, CEO of Woodside Don Voelte amusingly attempted to convince a crowd that the Greater Sunrise project was progressing.
"It's time for this project's day is in the sun," said Voelte in a meager attempt to provide folly to an untenable position while providing weak and misguided justification for a field that will not be developed under the auspices outlined in the fifteen page speech; a plan flatly rejected by Timorese regulators for non-compliance.
I don't think that's actually what Voelte said, not unless he was drunk, but you get the point. This is the most important bit, I think:
What Voelte failed to share with his audience: the commercial reality is if the development plan is not approved by 2013 or if Sunrise LNG production has not started by 2017, the CMATS treaty can be cancelled and Sunrise activity suspended until a new treaty can be negotiated between Australia and Timor-Leste.
The government is obviously in no rush to go ahead with Greater Sunrise. The comical events of the past few weeks only confirm this.
[...] freelance journalist and blogger Matt Crook observed earlier this month The government of Timor-Leste continues to launch daggers at all things Woodside over development [...]