LEE YOUN HO
XANANA GUSMAO=While visiting East Timor with a delegation of government officials and six energy-related companies, Minister of Knowledge Economy met Prime Minister of East Timor Xanana Gusmao to sign a Memorandum of Understanding (MOU) for cooperation in the field of petroleum resources in Dili on Wednesday (Oct. 15).
This is the first MOU concerning energy that East Timor has signed with a foreign government since its independence in 2002.
As Korean companies are working with the government of East Timor on surveys for establishment of a LNG plant in East Timor, East Timor's prime minister agreed to positively consider providing Korea with status as a preferred recipient nation of natural Gas.
Along with Korean firms' construction of an LNG plant in East Timor, the MOU covers joint research and development for yet-to-be-developed reserves, and establishes a ministerial-level resources cooperation council to continuously expand the bilateral energy partnership.
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