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Improvement of the Larger Dawn gasoline and condensate fields, first found within the Timor Sea in 1974, has been stalled for many years. With a maritime border dispute between the Southeast Asian island nation of Timor-Leste and Australia solved, the venture continues to be held up over a disagreement on whether or not the gasoline needs to be piped to Timor-Leste or Australia for processing and eventual export.
The top of Timor-Leste’s nationwide oil firm just lately got here to Washington to garner each technical experience and strategic assist from US policymakers. Whereas on the town, Timor Hole President and CEO Antonio de Sousa joined the podcast to share his hardline place that gasoline from Larger Dawn should be pumped to Timor-Leste; his optimism {that a} path ahead is inside attain, as a deadline has been set to finalize a authorized framework and manufacturing sharing contract for the offshore venture; and his outlook for future development within the LNG market.
Stick round after the interview for Starr Spencer with the Market Minute, a have a look at near-term oil market drivers.
Associated content material:
Shell sells 26.56% stake in Larger Dawn to East Timor for $300m
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World scramble for LNG tankers more likely to increase gasoline costs additional
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