Cabinet to consider East Timor gas deal

The long-awaited, multi-billion dollar oil and gas deal between Australia and East Timor will soon be presented to cabinet for a final tick of approval.

Foreign Minister Alexander Downer said all major elements of the deal had been agreed by both countries, but some last minute fine tuning was needed.

Under the deal, East Timor will drop permanent maritime boundaries covering the oil and gas rich Timor Sea for 50 years.