IMO the big mistake we made is that over the past 20 years we have hassled /bugged negotiations/hindered East Timor on the fair apportioning of the oil/gas reserves and their development in the Timor Gap ...so much so that E-T has been unable to derive any benefit to date.
No doubt the Chinese will come in, build pipelines/plant and extract gas & condensate within 3 years while we have been running angles for the prominently US owned WPL (Woolside). E-T is a 3rd World Country and it badly needs the LNG revenue while there is still a market.
I guess if we can run Subs and Warships through the Taiwan Strait, then the Chinese can return the complement by doing ditto in the Torres Strait /Coral Sea.
