Australia's Woodside to exit long-stalled Timor gas project

Sale of stake to a state-owned East Timor company could open door to Chinese bids Woodside Energy is headquartered in Perth, Australia. © Reuters CANBERRA/SYDNEY -- Australian energy company Woodside announced on Tuesday it will divest its stake in the Greater Sunrise gas project in Timor-Leste, selling it to a local state-owned player for $200 million, a move one analyst described as a major blow to the Southeast Asian nation's ambitions to develop the long-stalled venture.