By LNG World News Woodside-operated $40 billion Sunrise LNG project has been given a positive sign, as Australia and Timor-Leste agreed to reach a permanent solution on maritime borders in the Timor Sea.
The project stalled due to disputes between the two governments on the maritime boundaries, as Timor-Leste argued that a larger portion of the Greater Sunrise assets should be under its jurisdiction.
In 2006, Australia and Timor-Leste concluded negotiations over a Treaty on Certain Maritime Arrangements in the Timor Sea which established a new, temporary resource-sharing arrangement, but contained a moratorium on negotiations over a permanent maritime boundary for the next 50 years.
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