Editing Economy of Timor-Leste (section)

==Development projects==

===Electricity===
{{See also|List of power stations in Timor-Leste}}
* [[Betano Power Station]]
* [[Hera Diesel Power Plant]]

===Oil and gas===
[[File:Hands off Timorese Oil - Brisbane May Day 2017 parade.jpg|thumb|Protesters in Brisbane protesting [[Australia–Timor-Leste relations|Australia's claim on East Timorese oil]], May 2017]]
One promising long-term project is the joint development with Australia of [[petroleum]] and [[natural gas]] resources in the waters southeast of Timor-Leste.

Timor-Leste inherited no permanent maritime boundaries when it gained independence, repudiating the Timor Gap Treaty as illegal. A provisional agreement (the [[Timor Sea Treaty]], signed when Timor-Leste became independent in 2002) defined a Joint Petroleum Development Area (JPDA), and awarded 90% of revenues from existing projects in that area to Timor-Leste and 10% to Australia.<ref>{{cite web |url=http://www.aph.gov.au/library/pubs/RN/2001-02/02rn45.htm |title=aph.gov.au |publisher=aph.gov.au |access-date=28 March 2010 |url-status=dead |archive-url=https://web.archive.org/web/20110604224608/http://www.aph.gov.au/library/pubs/RN/2001-02/02rn45.htm |archive-date=4 June 2011 |df=dmy-all }}</ref> The first significant new development in the JPDA since East Timorese independence is the largest petroleum resource in the Timor Sea, the [[Greater Sunrise gas field]]. Its exploitation was the subject of separate agreements in 2003 and 2005. Only 20% of the field lies within the JPDA and the rest in waters not subject to the treaty (though claimed by both countries). The initial, temporary agreement gave 82% of revenues to Australia and only 18% to Timor-Leste.<ref>[http://www.transparency.gov.tl/g-sunrise.htm transparency.gov.tl] {{dead link|date=March 2017|bot=medic}}{{cbignore|bot=medic}}</ref>

The government of Timor-Leste has sought to negotiate a definite boundary with Australia at the halfway line between the countries, in accordance with the [[United Nations Convention on the Law of the Sea]]. The government of Australia preferred to establish the boundary at the end of the wide Australian [[continental shelf]], as agreed with Indonesia in 1972 and 1991. Normally a dispute such as this would be referred to the [[International Court of Justice]] or the [[International Tribunal for the Law of the Sea]] for an impartial decision,<ref>{{cite web|url=http://www.etan.org/issues/tsea/plainfact.htm|title=Plain facts about|access-date=4 March 2015|archive-date=13 June 2017|archive-url=https://web.archive.org/web/20170613095654/http://www.etan.org/issues/tsea/plainfact.htm|url-status=live}}</ref> but the Australian government had withdrawn from these international jurisdictions (solely on matters relating to maritime boundaries) shortly before East Timorese independence.<ref>{{cite web|url=http://www.austlii.edu.au/au/other/dfat/treaties/2002/5.html|title=Declaration under the Statute of the International Court of Justice concerning Australia's acceptance of the jurisdiction of the International Court of Justice (Canberra, 21 March 2002) [2002] ATS 5|access-date=4 March 2015|archive-date=20 July 2012|archive-url=https://archive.today/20120720005125/http://www.austlii.edu.au/au/other/dfat/treaties/2002/5.html|url-status=live}}</ref>

Nevertheless, under public and diplomatic pressure, the Australian government offered instead a last-minute concession solely on royalties from the Greater Sunrise gas field.<ref>{{cite web |url=http://crikey.com.au/articles/2005/05/09-1204-7954.html |title= Downer's spin and the East Timor talks |archive-url=https://web.archive.org/web/20051201131559/http://www.crikey.com.au/articles/2005/05/09-1204-7954.html |archive-date=1 December 2005}}</ref> An agreement was signed in 2005 under which both countries would set aside the dispute over the maritime boundary, and Timor-Leste would receive 50% of the revenues (estimated at [[Australian Dollar|A$]]26 billion or about [[United States Dollar|US$]]20 billion over the lifetime of the project)<ref>{{cite web |author=Geoff A. McKee, oil and gas expert engineer, Lecturer, University of NSW, Sydney, Australia |url=http://www.canb.auug.org.au/~wildwood/05mar26mckee.html |title=canb.auug.org.au |publisher=canb.auug.org.au |access-date=28 March 2010 |archive-date=23 August 2006 |archive-url=https://web.archive.org/web/20060823032214/http://www.canb.auug.org.au/%7Ewildwood/05mar26mckee.html |url-status=live }}</ref> from the Greater Sunrise development. Other developments within waters claimed by Timor-Leste but outside the JPDA ([[Laminaria oil field|Laminaria-Corallina]] and Buffalo) continue to be exploited unilaterally by Australia, however.<ref>{{cite web|url=http://www.pm.gov.tp/bill.htm |title=pm.gov.tp |publisher=pm.gov.tp |access-date=28 March 2010 |url-status=dead |archive-url=https://web.archive.org/web/20110615034259/http://www.pm.gov.tp/bill.htm |archive-date=15 June 2011 |df=dmy }}</ref>

Some proceeds from Timor-Leste's petroleum royalties are directed to the country's [[sovereign wealth fund]], the [[Timor-Leste Petroleum Fund]].

===Telecoms===
{{main|Telecommunications in Timor-Leste}}