Timor dispute threatens gas project

[struggle4progress]

Last Update: Wednesday, July 28, 2004. 11:53am (AEST)

Woodside Petroleum may abandon its development plans for the $5 billion Greater Sunrise gas projects if the dispute over East Timor's maritime boundaries is not resolved this year.

Australia is in dispute with East Timor over maritime boundaries and oil and gas reserves in the Timor Sea.

The East Timorese Government has yet to ratify an agreement on revenue-sharing from the Greater Sunrise project and the two countries plan to continue negotiations on maritime boundaries in September.

Federal Labor leader Mark Latham has indicated that if elected, Labor would re-start the talks, a pledge that has been severely criticised by Foreign Minister Alexander Downer.
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http://www.abc.net.au/news/newsitems/200407/s1163601.htm