Australia’s Woodside Energy, the developer of the Louisiana LNG export project, expects global natural gas demand to jump by 50% by the end of the decade, chief executive Meg O’Neill said at an industry conference on Tuesday.
Woodside Energy, the biggest natural gas producer in Australia and developer of LNG projects at home and abroad, has seen customers willing to lock in LNG supply into the 2040s, the executive said at the World Gas Conference in Beijing.
“The message is very clear, consistent, around the desire for more affordable reliable energy for nations on their journey towards net zero and gas is absolutely a part of the mix,” O’Neill said, as carried by Reuters.
As Woodside looks to meet part of the soaring global gas demand, the company is going where the gas is, the executive added, commenting on the decision to buy the former Driftwood LNG project in Louisiana as part of its acquisition of Tellurian for $1.2 billion last year.
Woodside was the first to take a final investment decision (FID) on a U.S. export project this year, approving investment in April in the Louisiana LNG plant. Ahead of the FID, Woodside had already sold 40% in Louisiana LNG to Stonepeak, under which the infrastructure investment firm will provide $5.7 billion towards the expected capital expenditure for the foundation development of the facility.
Last week, Woodside signed a non-binding collaboration agreement with Saudi Arabia’s oil giant Aramco to explore Aramco’s potential acquisition of an equity interest in and LNG offtake from Louisiana LNG.
The Australian firm is also developing the Scarborough Energy Project off the Pilbara coast of Western Australia.
Last week the project saw topsides and hull for the Floating Production Unit (FPU) joined, in what Woodside said was “a significant step forward for the Scarborough Energy Project as it progresses towards first LNG cargo, targeted for the second half of 2026.”
By Tsvetana Paraskova for Oilprice.com
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