1/8/2024 0 Comments Delimited boundary![]() The commercial venture partners, headed by Australia’s Woodside Energy, preferred a floating liquefied natural gas platform. Timor-Leste’s leaders wanted a pipeline to be constructed to its south coast so the country could build an oil industrialisation plant. Importantly, the agreement put aside a crucial dispute over how resources from Greater Sunrise would be carried away and processed. In it, they agreed to split the upstream revenues 50:50, and put a moratorium on permanent maritime boundaries until after 2050. In 2006, Australia and Timor-Leste signed the Treaty on Certain Maritime Arrangements in the Timor Sea (CMATS) that aimed to resolve the contest over the development of Greater Sunrise. This is inaccurate, largely because the most difficult issue-the development of Greater Sunrise-remains ongoing. Much of the media has presented the March agreement as resolving the long-running disputes between Australia and Timor-Leste over maritime boundaries and resources. And the third, and most important, relates to where the gas from Greater Sunrise should be piped that is, which state should benefit from the downstream revenues that come from processing. ![]() ![]() The second concerns the upstream revenue split of the lucrative but contested Greater Sunrise oil and gas field. ![]() The first is whether maritime boundaries should be delimited and where. The Timor Sea disputes comprise three distinct but overlapping components. On March 6, Australia and Timor-Leste signed a landmark treaty delimiting their maritime boundaries in the Timor Sea. ![]()
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