Woodside Energy is reportedly reconsidering its opposition to the Greater Sunrise oil and gas project.

Woodside had held the view that piping gas from the Greater Sunrise field to the undeveloped south coast of East Timor was not viable, but chief executive Meg O’Neill says the company is reassessing its view.

The proposed developers - including Woodside, Osaka Gas and Timor Gap - will study revised cost estimates and seek to understand how new technologies may be used as well as socio-economic impacts such as environmental, strategic and security benefits of the various options.

“It is important we continue to look at ways to develop the Greater Sunrise fields using the latest technologies by evaluating, for example, modular LNG, that did not exist in the past. Against a backdrop of global geopolitical instability and constrained energy supply chains, there is an opportunity for the Sunrise Joint Venture to significantly advance this regionally important project,” Ms O’Neill has told reporters.

The International Monetary Fund has warned East Timor faces a “fiscal cliff” if Greater Sunrise is not developed soon.