FRETILIN backs Greater Sunrise stake deal, urges fiscal caution
TIMOR GAP’s US$200 million agreement with Woodside would help bring its Greater Sunrise interest to 100%, but development decisions would still require bilateral approval.
Timor-Leste’s FRETILIN party has welcomed TIMOR GAP’s agreement to buy Woodside Energy’s 33.44% interest in Greater Sunrise, while urging the government to manage the project’s financial obligations carefully. Secretary General Mari Alkatiri outlined the party’s position in a statement on 28 October 2026.
The national oil and gas company signed the purchase agreement on 27 October. Alongside a September agreement to acquire Osaka Gas Australia’s 10% stake, the transaction would give TIMOR GAP a 100% participating interest once both deals are completed.
Woodside’s interest is valued at US$200 million. The payment terms comprise US$13.71 million at completion, US$11.29 million within 30 days of a final investment decision and US$175 million within 365 days after loading begins for the first liquefied natural gas cargo ultimately intended for sale to a customer.
Completion is targeted for the first half of 2027, subject to conditions including government, regulatory and joint venture approvals.
Alkatiri said full ownership would carry responsibility for financing development but would not give Timor-Leste exclusive decision-making authority. Under the 2018 Maritime Boundary Treaty with Australia, development requires approval through bilateral institutions, including a Governance Board that decides by consensus.
The former prime minister warned that Timor-Leste’s natural and financial resources were finite and should be used responsibly. FRETILIN called for the government to involve all stakeholders so that Greater Sunrise supports economic diversification and sustainable development rather than becoming an electoral issue.
