The Greater Sunrise LNG Project Expect to Start in 2009

Woodside has said that the Greater Sunrise LNG project in the Timor Sea could begin production in 2009. The project has a price tag of A$6.6 billion. The project was pushed back due to disputes over how to best develop the field and the agreements between Australia and East Timor over the treaty between the two countries.

Lucio Della Martina, Woodside's general manager LNG marketing said that Woodside is now focused on working with the other partners in the project to pursue customers and commercial arrangements to support development of the field. The start up date will ultimately depend on winning customers in the Asian market.

The joint venture plans to build the world's first LNG production plant at sea to develop the estimated nine trillion cubic feet of natural gas and 320 million barrels of liquids held by the Greater Sunrise field. Other shareholders in the Greater Sunrise joint venture are Shell, ConocoPhillips and Osaka Gas Co Ltd.