WOODSIDE Petroleum says it will not be processing gas from the Timor Sea fields in East Timor.
The company instead plans to establish a liquefied natural gas (LNG) facility in Darwin or a floating production platform at sea.
The loss of the $15b project has been felt by the East Timorese-government. The Natural Resources State Secretary says he will lobby the oil and gas giant to reconsider.
The project had been dormant between 2004 and 2007 but was revived after a rise in the global demand for LNG. A treaty had also been signed between Australia and East Timor to ensure the revenue would be split equally.
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