Beaço Gas Pipeline

From Global Energy Monitor
This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.
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Beaço Gas Pipeline is a proposed natural gas pipeline.[1]

Location

The pipeline runs the Greater Sunrise Area of East Timor's and Australia's Joint Petroleum Development Area to Beaço, East Timor.

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Project Details

  • Operator: Timor GAP
  • Parent Company: Timor GAP 56.6%; Woodside 33.4%; Osaka Gas 10%
  • Current Capacity:
  • Proposed Capacity:
  • Length: 65 mi / 150 km
  • Status: Proposed
  • Start Year: 2027[2]

Background

In 2002, the year East Timor became independent, a new treaty called Timor Sea Treaty was negotiated between East Timor and Australia which provided for the sharing of the proceeds of petroleum found in the Joint Petroleum Development Area (JPDA), an agreed area of seabed, by which East Timor would get 90% and Australia 10% of the revenue derived from the area. The agreement, however, decided that around 80% of the Greater Sunrise field, estimated to contain 5.1 trillion cubic feet of liquefied natural gas (LNG) and 226 million barrels of condensate, lie in Australian jurisdiction and only 20% in the JPDA.[3]

In October 2018 the East Timorese national oil company Timor GAP paid US$484 million for ConocoPhillips's 30% share in the Greater Sunrise Consortium that owns drilling rights to the Greater Sunrise field.[1] Timor GAP is proposing a 150-km pipeline that would run from the field to a proposed LNG facility at Beaço, East Timor.[1] In April 2019 Timor GAP paid US$300 million for Shell's stake in the Sunrise field.[4]

Financing

In August 2019 it was reported that Timor GAP was considering a US$16 billion loan from the Export-Import Bank of China to develop the Sunrise field.[5] In September 2019 the Australian Infrastructure Financing Facility for the Pacific (AIFFP) was in talks with the project's sponsors to provide US$350 million in financing.[6]

Articles and resources

References

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External resources

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