DILI, 26 january 2024 (TATOLI) – In a significant move towards fostering bilateral relations and promoting sustainable development, the Australian Minister for Resources and Northern Australia, Madeleine King, together with Minister for Foreign Affairs, Penny Wong, held a productive meeting with Timor-Leste’s Minister for Petroleum and Mineral Resources, Francisco da Costa Monteiro.
The meeting, which took place on 23 january, 2024, in Parliament House, Canberra, was primarily centered around the development of Carbon Capture and Storage (CCS) projects and the progression of the Greater Sunrise initiative.
The Ministers engaged in constructive discussions, emphasizing their strong support and commitment to the Bayu-Undan CCS project.
“Recognizing the importance of collaboration in addressing climate change and advancing technological frontiers, the ministers agreed to enhance cooperation in establishing the necessary legal and regulatory frameworks. This collaborative effort aims to facilitate the efficient movement of CO2 between the two nations, allowing for the secure storage of CO2 in subsea reservoirs,” said in a statement.
Furthermore, the ministers reaffirmed their dedication to ongoing dialogues with officials and the Sunrise Joint Venture. The focus of these talks is to finalize critical aspects of the Greater Sunrise project, including the Petroleum Mining Code, Fiscal Regime, and Production Sharing Contracts.
The meeting underscored the mutual commitment of both nations to the commercially viable and mutually beneficial development of the Greater Sunrise project.
This meeting marks a positive step forward in regional cooperation and showcases the shared vision of Australia and Timor-Leste in promoting sustainable energy solutions and economic development and strengthening the bilateral relationship between Australia and Timor-Leste.
Journalist: Camilio de Sousa
Editor: Filomeno Martins
