Timor-Leste is eager to increase its annual output of oil of gas and open to carbon capture and storage projects.

Takayuki Veda said in a statement he was “happy” with the outcomes of his visit, his first to Timor-Leste.

Inpex was reported by Reuters as saying it would invest up to 4.4 trillion yen ($38 billion) in energy growth areas over the next nine years, with one trillion to be spent on decarbonisation, including hydrogen and ammonia.

Veda met Prime Minister Xanana Gusmao, Vice Prime Minister, the Coordinator Minister of Economy, Tourism and Environment Francisco Kalbuadi Lay on Sunday and commented on feeling privileged to be in talks about future of oil and gas development in Timor-Leste, a government statement said.