East Timor tears up oil and gas treaty with Australia after Hague dispute  

Posted by Big Gav in , , ,

Rather surprisingly, the most read post from this blog this week is an old one from 2013 - East Timor Complains About Australian Spying On Oil And Gas Negotiations / Australia Detains Whistleblower.

Presumably interest has been piqued by East Timor's recent decision to abandon an earlier agreement on oil and gas revenue sharing from Timor Sea fields - East Timor tears up oil and gas treaty with Australia after Hague dispute. The SMH has an article outlining the case for a better deal for the Timorese - Australia's unscrupulous pursuit of East Timor's oil needs to stop.

East Timor will tear up an oil and gas treaty with Australia that has been at the centre of espionage allegations, international arbitration and a bitter diplomatic dispute. The 2006 treaty relates to a temporary maritime border in the Timor Sea, and access to oil and gas deposits worth an estimated $40 billion. The agreement had outlined a 50-year freeze on negotiations for a permanent border.

But East Timor, also known as Timor-Leste, had claimed the treaty was invalid given Australian intelligence operations in 2004. Diplomatic relations have been tense since East Timorese officials accused Australia of spying on cabinet ministers amid negotiations on the treaty to divide the oil and gas fields.

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