Sunrise gas no chance for Darwin LNG

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 21 : 9-Mar-18

Santos executive Bruce Clement says there is little prospect of gas from the Sunrise project in the Timor Sea being processed at the Darwin LNG plant. The Darwin facility and a greenfields plant in East Timor are the only options included in a new treaty on the maritime boundary between Australia and East Timor. The Darwin plant currently processes LNG from the Bayu-Undan gasfield, which is expected to be exhausted by 2022-23. Clement says the Barossa gas field is the only one that can be assured of supplying the Darwin plant after Bayu-Undan reaches the end of its life.

CORPORATES
SANTOS LIMITED – ASX STO, CONOCOPHILLIPS, SK GAS COMPANY LIMITED, WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, OSAKA GAS COMPANY, PTTEP OFFSHORE INVESTMENT COMPANY LIMITED

Floating LNG not an option for Sunrise

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 8-Mar-18

Woodside Petroleum and ConocoPhillips have expressed disappointment that Australia and East Timor have not reached agreement on processing gas from the Sunrise gas field in the Timor Sea. An onshore processing facility in either Darwin or East Timor are the only options outlined in the new treaty on the maritime boundary between the two nations. Woodside has advocated the construction of a floating LNG plant. East Timor’s share of government revenue from Sunrise would be higher if the existing Darwin LNG plant is used.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, CONOCOPHILLIPS, ROYAL DUTCH SHELL PLC, PERMANENT COURT OF ARBITRATION, CARNARVON PETROLEUM LIMITED – ASX CVN

Canberra takes $8bn bath on Timor deal

Original article by Cameron Stewart
The Australian – Page: 2 : 7-Mar-18

Australia and East Timor will sign a treaty on the maritime boundary between the two nations in New York on March 7. The treaty is likely to change the revenue-sharing arrangement for oil and gas reserves in the Timor Sea from the current equal split to one that favours East Timor. This would reduce Australia’s revenue share from around $A20bn to $A12bn over the next 35 years. East Timor’s revenue share may increase further if LNG is processed at existing facilities in Darwin rather than in East Timor.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, WOODSIDE PETROLEUM LIMITED – ASX WPL, CONOCOPHILLIPS, ROYAL DUTCH SHELL PLC, OSAKA GAS COMPANY, PERMANENT COURT OF ARBITRATION

Woodside urges end to Sunrise deadlock

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 9-Feb-15

Rui Araujo is widely tipped to succeed outgoing East Timor Prime Minister Xanana Gusmao. Deakin University’s Damien Kingsbury says Araujo might be more amenable to negotiations regarding the Sunrise gas field in the Timor Sea, which has been the subject of a maritime boundary dispute between Australia and East Timor. Woodside Petroleum wants the impasse to be resolved so it can move forward with its $US13bn ($A17bn) Sunrise gas project

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, DEAKIN UNIVERSITY, EAST TIMOR. OFFICE OF THE PRIME MINISTER, FRETILIN, AUSTRALIA. NATIONAL SECURITY COMMITTEE, ROYAL DUTCH SHELL PLC, CONOCOPHILLIPS, INTERNATIONAL COURT OF JUSTICE, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE