Government of Timor-Leste

The independent conceptual study on the development of Greater Sunrise, carried out by the company British Wood between April and November 2024, confirms that the option of developing the project in Timor-Leste is viable and the most advantageous for the country, guaranteeing significant economic and social benefits.

The study evaluated four main development options - Timor-Leste Liquefied Natural Gas (TLNG), Darwin LNG (DLNG), Ichthys LNG and a new LNG facility in Australia. All the options were considered technically viable, with their associated risks, but all feasible.

The TLNG option stands out because it provides for lower operating costs (OPEX) and, by enabling better overall returns, both direct and indirect, for Timor-Leste, it will create a major socio-economic impact in the country. This option also predicts a greater positive impact on Gross Domestic Product (GDP) and job creation and is also the one with the highest returns for the Greater Sunrise Development Consortium (Sunrise Joint Venture). According to the study, TLNG will also make it possible to achieve better direct upstream returns for Australia.

 Wood, with extensive experience in liquefied natural gas feasibility studies at a global level, used rigorous criteria to analyse aspects of engineering, technology, financing, commercial structures, as well as fiscal, environmental, health and safety, and socio-economic impacts.

The Prime Ministers of Timor-Leste and Australia, Kay Rala Xanana Gusmão and Anthony Albanese, respectively, in a joint statement issued last Saturday, 21 December, reaffirmed the commitment of both countries ‘to ensuring that the development of the Greater Sunrise fields in the Timor Sea provides long-term benefits for the people of Timor-Leste’.

 ‘To support Timor-Leste's aspirations to secure long-term economic growth, improve living standards and diversify its economy, Australia has proposed to make a significant investment in Timor-Leste's future through the establishment of a dedicated infrastructure fund, capitalised from part of Australia's share of future revenues from the Greater Sunrise project,’ the statement said.

The heads of government of the two countries said they ‘look forward to personally marking these significant initiatives next year, as a demonstration of the commitment of both countries to the development of Greater Sunrise and the strengthening of the bilateral relationship’.

The Minister for the Presidency of the Council of Ministers, Government Spokesperson and Timor-Leste's Interlocutor in the Greater Sunrise discussions, Agio Pereira, said that ‘the conclusion of this study is a fundamental milestone that unequivocally confirms the viability of developing Greater Sunrise in Timor-Leste. This solution will bring significant and sustainable benefits to the Timorese people and will consolidate the country's economic potential. We will continue to work closely with our partners to implement this vision.

The Greater Sunrise gas fields are located around 140 kilometres south of the coast of Timor-Leste. The consortium responsible for developing the Greater Sunrise fields (Sunrise Joint Venture) is made up of TIMOR GAP, which holds 56.6 %, Woodside, with 33.44 %, and Osaka Gas Australia, with 10 %.