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Project Insights

Chinese finance bolsters East Timor LNG plan

China International Capital Corp.'s agreement to help finance the onshore element of East Timor's Greater Sunrise project is a positive development, but doubts remain China International Capital Corp.'s agreement to help finance the onshore element of East Timor's Greater Sunrise project is a positive development, but doubts remain.
By Damon Evans 4 days ago Asia Pacific / Exploration & Production 0 34219
ConocoPhillips' Bayu Undan platform in the Timor Sea. (ConocoPhillips)

The key issue: East Timorese NOC TimorGAP announced last week that it had signed a contract with China International Capital Corp. to help finance the downstream section of the proposed Greater Sunrise gas project.

Interfax analysis: A new finance agreement between TimorGAP and China International Capital Corp. (CICC) is set to provide a boost to plans to bring gas onshore from the Greater Sunrise fields off East Timor, but major questions remain about the project’s economic viability.

Francisco Monteiro, TimorGAP’s president and chief executive, did not...