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Shell exiting Greater Sunrise fields. Sells stake to Timor Leste for $300M Oil and gas Shell is exiting the long-stalled Greater Sunrise offshore gas project in the Timor Sea, agreeing to sell its interest to the Timor-Leste government for $300 million. Shell follows the steps of ConocoPhillips which announced the sale in October.
“Using decommissioned infrastructure to store carbon in an environmentally appropriate way is not only good for the environment, but is an important income stream for Timor Leste,” Mr de Sousa told The Australian Financial Review.
Timor Gap head António de Sousa says carbon storage opens up new revenue for the impoverished nation, which has also been given fresh hope on the Sunrise gas project.
The generation capacity in Timor-Leste currently stands at almost 300 MW consisting of 3 power plants. In addition to these main power plants meeting most of the power demand of the country, small diesel-fired generators serve as a significant source of electric power in many localities with inadequate power from the grid.
More than 75% of oil imports in Timor-Leste are used for electricity production across the country and around 90% of the sector’s operating costs are fuel costs associated with power generation. The Government of Timor-Leste intends to replace part of this high-cost generation by more cost-efficient solar power.
The fields were discovered in 1974 and hold around 5.13 Tcf of gas and 225.9 million barrels of condensate. Timor-Leste government is hoping to develop the Greater Sunrise fields through a pipeline to the coast of Timor-Leste and the construction and operation of a natural gas processing plant in Beaço.
Wood on Tuesday confirmed it has been selected as the lead specialist consultant for an independent concept study for the Woodside Energy-operated giant Sunrise …
Oil and gas Shell is exiting the long-stalled Greater Sunrise offshore gas project in the Timor Sea, agreeing to sell its interest to the Timor-Leste government for $300 million. Shell follows the steps of ConocoPhillips …
The last grid-scale BESS that Energy-Storage.news reported on in Brazil was a 30M/60MWh non-wires alternative (NWA) project from transmission system operator (TSO) …
The meeting took place on January 23 rd, 2024, at the Parliament of Australia in Canberra and focused mainly on the joint development of carbon capture and storage projects and the …
The long-delayed Greater Sunrise LNG project in Timor-Leste is on the verge of being unlocked as a crucial development study that will decide on a concept that provides …
The fields are located 450 kilometres northwest of Darwin in Australia and 150 kilometres south of Timor-Leste. The project owners are Timor GAP with 56.56%, operator …
On 8 August 2024 Finder Energy announced the signing of agreements to acquire a 76% interest in, and operatorship of, PSC 19-11 offshore Timor-Leste (Figure 1), …
This is significant in that it will mean production can begin in the coming years, unlike Woodside Energy''s Greater Sunrise project which has been mired in controversy …
delivery of gas to Timor-Leste for processing and LNG sales or the alternative of delivery of the gas to Australia. It will include a range of disciplines including engineering, …
of "Timor-Leste". The requested project is deemed appropriate to be carried out under Japan''s grant-aid assistance scheme due to the following reasons. (1) A departure from dependence …
Bayu Undan will become a storage site for captured CO2 East Timor Eyes First Mover Advantage. The government of East Timor seems happy to oblige Santos and its CCS plan.
Mark Wilson, ILI Group, CEO, said: "It is fitting that this announcement comes at the start of COP26 as energy storage projects like this are crucial in the energy transition to …
The development project is located between Timor-Leste and Australia''s Northern Territory and comprises the Sunrise and Troubadour gas and condensate fields. Wood has …
The agreement includes technical assistance in the development of legal and regulatory frameworks and other areas for the Carbon Capture and Storage Project (CCS). Euan Marshall, Director of IFC, emphasised that the CCS …
Santos is looking to develop the Bayu-Undan CCS project to help deal with carbon waste from its controversial Barossa offshore gas project in the Timor Sea, which will …
The project is expected to comprise of a utility scale photovoltaic (PV) solar power plant of up to 100 megawatt (MW) and supporting infrastructure. A Battery Energy Storage System (BESS) …
The Greater Sunrise project, harnessing significant natural gas and condensate reserves, will transform Timor-Leste''s economy, generating up to USD 50 billion. It aims to boost local …
Italian oil and gas player Eni and Australian energy giant Santos have agreed to cooperate on projects in northern Australia and Timor-Leste. Barossa concept; Source: Santos …
The Timor-Leste Australia Energy Partnership aims to promote collaborative research initiatives between Australian and Timor-Leste institutions, driving innovation and …
The agreement includes technical assistance in the development of legal and regulatory frameworks and other areas for the Carbon Capture and Storage Project (CCS). Euan …
The German government has opened a public consultation on new frameworks to procure energy resources, including long-duration energy storage (LDES). Under the proposed Kraftwerkssicherheitsgesetz, loosely …
Oil and gas Shell is exiting the long-stalled Greater Sunrise offshore gas project in the Timor Sea, agreeing to sell its interest to the Timor-Leste government for $300 …