East Timor's ability to develop its oil and gas reserves in the Timor Sea will greatly affect the economy. By 2003, the government planned to introduce a petroleum fund, designed to enhance transparency and accountability in the management of oil and gas revenues. A gas recycling project in the Bayu Undan offshore gas field was expected to begin in 2004. Revenues from that and other projects were projected to flow in by 2006. Fossil fuels account for 100% of electricity production.
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