LNG

Australian and Japanese energy companies along with US major ConocoPhillips have signed accords linked to legislation implemented by Australia for a treaty with the tiny southeast Asian nation of Timor-Leste to establish their maritime boundaries in the Timor Sea off northwest Australia.

Australian natural gas and oil production set new records in the third quarter and almost took the country to a run rate of one billion barrels of oil equivalent per annum, led by LNG output in Western Australia and the coming on stream of the Ichthys plant in the Northern Territory.