Maritime deal between Timor-Leste and Australia improves long-term prospect of LNG exploitation

Timor-Leste, or East Timor, a Southeast Asian nation occupying half the island of Timor, is ringed by coral reefs teeming with marine life. The parliament of Timor-Leste voted in favor Tuesday of ratifying a maritime boundary treaty with Australia that governs how the two countries will share billions of dollars of oil and gas riches lying beneath the Timor Sea. Timor-Leste, one of the world’s youngest and poorest nations, and Australia, one of the richest, signed a historic treaty in March last year drawing their maritime borders. It paves the way for development of the offshore Greater Sunrise gas field. Source: credendo, the diplomat