Timor-Leste has reaffirmed its commitment to the Greater Sunrise gas project despite the withdrawal of Australian energy company Woodside Energy. The government plans to proceed with a pipeline from the gas fields to its south coast, where it will construct multi-billion-dollar facilities for liquefied natural gas processing.
Woodside Energy sold its 33% stake in the project for $285 million on Tuesday, stepping away from its role as the operator. Timor Gap CEO Rui Soares stated that the sale strengthens the government's position, though industry analysts remain skeptical.
Saul Kavonic from MST Financial warned that the absence of an experienced operator like Woodside introduces significant risks. He cautioned that Timor-Leste may be overestimating its ability to successfully execute the project without industry expertise.