Australia's House of Representatives Passes Timor Sea Treaty
Australia's House of Representatives has passed legislation to ratify the Timor Sea Treaty. The bill will go before the Australian Senate on Thursday. The treaty was ratified by East Timor's parliament last year.
Australia's Federal Resources Minister, Ian McFarlane, has told parliament it's in the national interest for the bill to be approved as soon as possible. The treaty provides a framework for exploration development and exploitation of petroleum resources in the joint petroleum development area created by the treaty - ratification of the treaty will enable the industry to rapidly proceed with the development of Timor Sea natural gas projects.