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AUSTRALIA'S PHILLIPS JV DEFERS US$755 MLN GAS PIPELINE PLANS.
SYDNEY, Aug 1 Asia Pulse - Phillips Petroleum Pty Ltd and its joint venture partners have indefinitely deferred plans to build a $A1.5 billion ($US755.55 million) gas pipeline to Darwin.
The pipeline underpins $A13 billion ($US6.55 billion) in developments including a methanol plant and Timor Sea gas piped to Queensland, New South Wales, Victoria and South Australia.
"The deferral reflects the need to resolve certain critical legal, fiscal and taxation issues arising from the Timor Sea Arrangement entered into between the governments of Australia and East Timor," the US-based parent company Phillips Petroleum Co said in a statement.
"This decision may prevent commercialisation of certain Timor Sea gas resources."
Under the new Timor Gap agreement between Australia and East Timor signed in Dili this month, the cost of exploiting gas resources in the Timor Sea increased because of the loss of investment incentives.
...- A squabble over oil; Australia and East Timor.(Timor Sea Treaty divides oil and...
- Magazine article from: The Economist (US) March 15, 2003 700+ words
...reserves under the Timor Sea, which separates Australia and East Timor. For Australia...under the Timor Sea Treaty that Australia and East Timor signed last...ratifying the Timor Sea Treaty until...March, leaving East Timor with the grim...
- AUSTRALIA, EAST TIMOR RELATIONS SOUR WITH TIMOR SEA TREATY.
- News wire article from: AsiaPulse News March 7, 2003 700+ words
...underneath the Timor Sea, which separates...66 billion). East Timor inherited an agreement...known as the Timor Sea Treaty. The agreement...Alkatiri over the Timor Sea negotiations...strong-arm" East Timor. "My call to...
- AUSTRALIA, EAST TIMOR STRIKE DEAL ON TIMOR SEA.
- News wire article from: AsiaPulse News December 1, 2005 700+ words
...Australia and East Timor have struck a deal...resources in the Timor Sea, Foreign Minister...Australia and East Timor have been working...under the 2002 Timor Sea treaty would remain...signed in May 2002, East Timor is entitled to...
- East Timor--prospects for greenfield LNG projects are looking up after the...
- Newspaper article from: Petroleum Intelligence Weekly March 17, 2003 700+ words
EAST TIMOR -- Prospects for greenfield LNG projects...international agreements involving the Timor Sea Joint Petroleum Development Area shared...PIW Dec.9,p8). The treaty gives East Timor 90% of the revenue from resource development...
- East Timor -- US-based Phillips is taking the political route in Australia in...
- Newspaper article from: Petroleum Intelligence Weekly April 22, 2002 700+ words
EAST TIMOR -- US-based Phillips is taking the political route in Australia in...over how to process gas from the 9.3 Tcf Greater Sunrise project in the Timor Sea. Phillips is adamant that the gas be shipped by pipeline to Darwin...
- East Timor, Australia fight for riches beneath the sea.(WORLD)(BRIEFING:...
- Newspaper article from: The Washington Times August 27, 2004 700+ words
...the bottom of the Timor Sea that divides the two...the relationship. East Timor has branded Canberra...seabed. Australia and East Timor signed the Timor Sea Treaty in 2002, using...to be ratified by East Timor, only 18 percent...
- East Timor and Australia Wrestle Over Riches Beneath the Sea.
- Magazine article from: World and I Kremmer, Janaki January 1, 2005 700+ words
...the bottom of the Timor Sea that divides the two...the relationship. East Timor has branded Canberra...seabed. Australia and East Timor signed the Timor Sea Treaty in 2002, using...to be ratified by East Timor, only 18 percent...
- EAST TIMOR: AUSTRALIA RAMPS UP MILITARY PRESENCE IN REGION.
- News wire article from: Interpress Service February 14, 2008 700+ words
...interests". In regards to East Timor, Australia also has an economic...deposits -- which lie closer to East Timor -- in the Timor Sea, bringing an end to negotiations that had been ongoing since East Timor's independence in 2002. Australia...
