The facts
The announced payments are US$13.71 million at completion, US$11.29 million at a final investment decision and US$175 million within 365 days of the first LNG cargo. The full US$200 million is conditional, not an immediate payment. [1]
Timor GAP told Tatoli that completion was targeted for the first half of 2027, subject to government, regulatory and joint-venture approvals. [3]
The Woodside transaction is separate from a previously announced agreement to acquire Osaka Gas’s 10% interest. Timor GAP’s proposed full ownership depends on both acquisitions completing. [1][3]
ABC reported the proposed Woodside exit and examined its implications for development of the offshore gas fields; the agreement itself does not establish a final investment decision or the start of LNG production. [1][2]
Still unconfirmed
- Approvals, completion, a final investment decision and future LNG production remain unresolved.
Sources
References support the numbered facts above. Source checks: 29 Oct 2026, 11:28 UTC.
- Timor GAP to acquire Woodside Energy’s interests in the Greater Sunrise project
Timor GAP · Primary source · 27 Oct 2026
Buyer’s announcement. Payment currency is US dollars; the Australian-dollar conversion in other coverage is not treated as a second price.
- China tipped to step forward as Woodside exits Timor-Leste gas project
Australian Broadcasting Corporation · Reporting · 27 Oct 2026
Independent public broadcaster’s report by Stephen Dziedzic, Daniel Mercer and Nick Sas, updated 28 October. Speculation about a future operator is omitted.
- Timor GAP to buy Woodside Energy’s 33.44% stake in Sunrise project
Tatoli · Reporting · 27 Oct 2026
Timor-Leste’s state news agency supplies the precise stake and attributed completion conditions. It is not treated as independent of the state buyer; ABC supplies separate reporting.