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At UN, East Timor and Australia Sign Deal on Maritime Border

East Timor and Australia signed a treaty at the United Nations in New York on Tuesday to resolve a long-running dispute over their maritime border and struck a deal on how to share revenue from the giant offshore Greater Sunrise gas field. Under the agreement, East Timor will receive a bigger share of the revenue than Australia depending on the development concept - 70 percent of the revenue if the gas is piped to the tiny country or 80 percent if the gas is piped to Australia for processing. The agreement establishes a maritime boundary in the Timor Sea for the first time. Australia had sought a boundary aligned with its continental shelf, but East Timor argued the border should lie half way between it and Australia - placing much of the Greater Sunrise field under its control. "With this treaty we open a new chapter in relations between Australia... If you wish to read this full breaking news headline article, At UN, East Timor and Australia Sign Deal on Maritime Border, simply click on 'Read full story' below, but 1st please give 'Phuket Hotel Deals' a 'LIKE' or 'SHARE' before you visit 'VOA NEWS'. Thank you At UN, East Timor and Australia Sign Deal on Maritime Border

 

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