A confidential report prepared for East Timor’s government advises that the stalled Greater Sunrise gas project to be operated by Woodside Petroleum can be built and run at a similar cost in East Timor, instead of Darwin.
A confidential report prepared for East Timor’s government advises that the stalled Greater Sunrise gas project to be operated by Woodside Petroleum in waters north of Australia can be built and run at a similar cost in East Timor, instead of Darwin.The Australian Financial Review
In addition to the similar upfront capital expenditure costs, the new 130-plus page report estimates the ongoing multi-decade operating expenses for labour and other expenses would be cheaper in East Timor. Updated project costings by independent energy consulting group ERCE estimate that the total capital expenditure for the LNG project construction would be $US11.8 billion in Darwin and $US14.1 billion in East Timor, according to the report finalised for the Timor Gap entity in July 2021.The $US2.3 billion cost differential calculated last year for construction is a fraction of the original $US10.3 billion difference based on studies and engineering work completed in 2015.
She said the energy crisis fuelled by Russia’s invasion of Ukraine “may help pick up the pace in progressing those discussions” on the Sunrise scheme’s production-sharing contract for the oil and gas fields in the East Timor Sea.
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