Australia And East Timor Agree on Maritime Border, 'pathway' To Develop Gas Field

[damirUSBiH + 327]

The agreement would establish a maritime boundary in the Timor Sea for the first time. Under the agreement, the share of revenue from the offshore gas field will differ depending on downstream benefits that arise from "different development concepts". According to media reports, East Timor could receive up to 80 per cent of revenue, but could agree to less if gas is piped to a terminal in the tiny country.

[Petar + 76]

East Timor deserves it. Hope it really is fair and equitable for East Timor and not some smoke-and-mirrors con-job that benefits Australia and its interests.

[damirUSBiH + 327]

Me, too. This is a long history ( three decades) of treaties in the Timor Sea:
 - In 1989 Australia and Indonesia signed the Timor Gap Treaty when East Timor was still under Indonesian occupation.
- East Timor was left with no permanent maritime border and Indonesia and Australia got to share the wealth in what was known as the Timor Gap.
- In 2002 East Timor gained independence and the Timor Sea Treaty was signed, but no permanent maritime border was negotiated.
- East Timor has long argued the border should sit halfway between it and Australia, placing most of the Greater Sunrise oil and gas field in their territory.
 - In 2004 East Timor started negotiating with Australia again about the border.
- In 2006 the CMATS treaty was signed, but no permanent border was set, and instead it ruled that revenue from the Greater Sunrise oil and gas field would be split evenly between the two countries.

Finally, they find solution....

 

[Pavel + 384]

Australia's offshore gas deal could secure improvement Timor's future.

[franco + 96]

If you don't want people from other countries (neighbors) coming to Australia due to poverty, you need to let their countries prosper. This could be a good example about fair deal.

[damirUSBiH + 327]

So, Australia has finally decided not to bully and scam their neighbour and one of the poorest countries in the world!