Australian Energy Giant Woodside Outlines Path to Timor-Based LNG Production

Woodside Energy Group Ltd announced the execution of a partnership framework with Timor-Leste's Ministry of Petroleum and Mineral Resources, setting the stage for developing a liquefied natural gas facility powered by the Greater Sunrise gas reserves. The initiative represents a substantial step toward unlocking energy resources in the region.

The comprehensive roadmap established through this arrangement targets initial production between 2032 and 2035. Project planners are engineering a large-scale LNG development designed to process approximately 5 million tonnes annually, complemented by infrastructure for helium recovery operations. This dual-purpose approach aims to maximize resource extraction efficiency from the Greater Sunrise fields.

Technical and commercial evaluation activities will commence immediately under joint oversight. These workstreams will proceed concurrently with broader negotiations involving the Sunrise Joint Venture partners and both the Timor-Leste and Australian governments. The discussions will address taxation frameworks, operational regulations, and contractual arrangements necessary for the upstream portion of the development.

The partnership underscores international interest in advancing Timor-Leste's hydrocarbon sector and capitalizing on proven reserves. By establishing clear collaboration protocols, both parties intend to accelerate the transition from exploration phase to commercial development.

On the Australian Securities Exchange, Woodside Energy shares finished marginally higher, gaining 0.12% to close at AUD 25.11, reflecting market reception to the project advancement announcement.