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Highlights

  • Woodside Energy forecasts a 50% increase in global gas demand by 2030.
  • CEO Meg O’Neill says LNG supply contracts are being sought into the 2040s.
  • Company continues to invest in projects in Australia and the U.S., including Scarborough and Louisiana.

 Woodside Energy Group Ltd (ASX: WDS), Australia's largest natural gas producer, anticipates a significant rise in global gas demand over the next five years, with projections indicating a 50% increase by 2030. The forecast was shared by CEO Meg O’Neill during remarks at the World Gas Conference on Tuesday, where she emphasized gas’s ongoing role in the global energy transition.

O’Neill noted that energy customers worldwide are consistently seeking reliable and affordable sources as they pursue emissions reduction goals, with natural gas continuing to feature prominently in the energy mix. “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,” she said.

According to O’Neill, many customers are looking to secure long-term liquefied natural gas (LNG) contracts extending into the 2040s, reflecting confidence in gas as a key transitional fuel. She added that demand patterns suggest LNG suppliers will need to respond with sustained investment in new capacity.

Speaking about Woodside’s strategy, O’Neill highlighted the company’s efforts to maintain a competitive position in both domestic and international markets. “We have to go where the gas is,” she said, referencing the firm’s $1.2 billion acquisition of an LNG project in Louisiana in 2023. She described the move as complementary to Woodside’s existing operations in Australia, particularly as demand in the Atlantic basin continues to grow.

O’Neill said Woodside remains focused on Australia, with the Scarborough project set to begin LNG production in H2 2026, as the company balances local and global energy priorities amid market and policy shifts. O’Neill did not provide updated financial figures or production targets during her appearance but reiterated the importance of maintaining cost competitiveness as part of the company’s long-term project planning.

Woodside’s investments in LNG align with increasing demand from Asia and Europe, regions that have prioritised gas as a lower-emission alternative to coal while renewable capacity continues to scale. The company’s dual focus on Australian and U.S.-based assets positions it to participate in both Pacific and Atlantic basin markets. Further updates on Woodside’s project timelines and financial outlook are expected in its next quarterly report.