Major LNG Push: Woodside & Timor-Leste Eye 2032-2035 First Production

Woodside Energy just locked in a cooperation deal with Timor-Leste’s Ministry of Petroleum to develop the Greater Sunrise gas fields into a liquefied natural gas (LNG) hub. Here’s what’s on the table:

The Scale

• Target capacity: ~5 million tonnes of LNG per year
• First production window: 2032-2035 (that’s 7-10 years out)
• Includes a domestic gas facility + helium extraction unit

What’s Happening Now Both sides are running parallel workstreams:

• Technical & commercial studies to mature the concept
• Negotiations on fiscal terms, regulatory frameworks, and upstream development rights between the joint venture and Australian/Timor-Leste governments

Why It Matters Greater Sunrise is one of the region’s largest untapped gas reserves. A greenfield LNG project here could reshape regional energy supply chains and boost Timor-Leste’s economy. For Woodside, it’s a major growth play in a key geopolitical zone.

Market Reaction Woodside stock ticked up 0.12% to AUD 25.11 on the ASX. Pretty muted—likely because first gas is still years away and there’s execution risk.