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Strategies & Market Trends : Asia Forum
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To: Bosco who wrote (9279)9/10/1999 11:34:00 AM
From: mdmdm  Read Replies (3) of 9980
 
According to the FEER, the Timor Gap oil field can provide revenues of as much as $1 billion over 20 years once output starts to flow in three to four years' time. And "Most political analysts believe East Timor willinherit Indonesia's interests in the Gap on independence." The Timor Gap Treaty signed in '89 provided for Australia and Indonesia to divide the Gap for administration. However, in '98, the jailed East Timorese independence leader, Xanana Gusmao,signed a pledge to honor the treaty as it applies to the Australians but Timor would inherit Indonesia's rights in the treaty upon Independence. The Timor Gap has enough gas to supply Darwin which has relied on expensive gas for the past 20 years piped from central Australian.

Is this a case where Australia has engaged in petro-intrigue that is backfiring much to the pain and cost of the people of Timor?
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