Thanks for the replies, everyone. Yes, there is often confusion between ETOPS--which IS time limited (distance, actually), and the ETPs--which are not. Mike
To be precise ETOPs is not time limited at all, but as 76mike said, a fixed distance limit derived from an authorised still air single engine speed for 120 (or 180 etc)minutes.
Also the ETP is always out by approx 2 minutes as no account is taken for the turn (assuming the airfields are ahead and behind)