ENERGY giant Woodside has told Northern Territory leaders its off-shore gas processing platform will lead to billions of dollars of investment in Darwin.
And Woodside boss Don Voelte has issued a subtle threat to East Timor if the tiny nation tries to pull out of a multibillion-dollar international agreement.
East Timor was competing with Darwin to process the LNG from the Greater Sunrise field - but Woodside decided on a cheaper third option to build an experimental floating platform.
East Timor Prime Minister Xanana Gusmo has threatened to sink the entire development in response.
But Woodside chief executive Don Voelte said East Timor could not legally back out of the deal.
"They cannot walk away from it."
Mr Voelte said the developing country would be breaking a treaty it signed two and a half years ago - which would hurt its ability to deal with the United States, the European Union or any other international body.
"It will do them a lot of damage ... But we'll win it on the merits of the program." he said.
Mr Voelte said the floating platform would offer billions of dollars worth of construction to businesses in Darwin and Dili.
He said it would be a "country building" project for East Timor and would lead to billions of dollars of investment in Darwin.
"So here you have a project which is going to be billions and billions and billions of dollars and the nearest and closest existing (industry) capable of handling that is right here in Darwin," he said.
Chief Minister Paul Henderson discussed opportunities for the Territory's involvement in the project with Mr Voelte last week.
Woodside was unable to make any concrete offers, but promised there would be "significant" economic and job opportunities.
Mr Henderson said he was not concerned that off-shore processing facilities could hurt the Territory's economy in the future.
"I am a realist. I have to be as realist as the Chief Minister. Like King Canute couldn't hold back the tide, we are going to see more of these remote fields processed offshore. That's the reality of where the technology is heading," he said.
Floating processing facilities could be used to develop smaller fields north of Darwin that were not financially viable previously.
Credits :ntnews.com.au
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