Highlights

  • Scarborough Gas Project development progressing on schedule toward first LNG cargo from Pluto Train 2
  • Global LNG portfolio includes Pluto LNG, North West Shelf, and international assets including Sangomar
  • US Gulf of Mexico gas and LNG exposure via Corpus Christi assets complements Australian portfolio
  • Strong Asian LNG demand underpins long-term Woodside sales agreements and spot market exposure

Woodside Energy Group Limited (ASX:WDS), trading at A$24.65 as at 30 October 2026, is Australia's largest independent oil and gas company, advancing a globally diversified portfolio of LNG and energy assets while progressing the Scarborough Gas Project in Western Australia that represents the next major tranche of Australian LNG supply to Asia-Pacific gas markets.

Scarborough Gas Project: Australia's Next Major LNG Development

The Scarborough Gas Project is Woodside's flagship growth project, targeting the development of the world-class Scarborough gas field located in the deep water off the north-west coast of Western Australia for processing through the Pluto LNG facility's second train (Pluto Train 2) at Woodside's existing Burrup Hub. The project involves significant offshore infrastructure development including a new floating production unit, a 430 kilometre subsea pipeline to Onslow, and onshore train expansion at Pluto. Woodside took a Final Investment Decision on Scarborough in November 2021, and the project has been progressing through detailed engineering, procurement, and offshore construction phases. The Scarborough-Pluto Train 2 development will provide additional LNG supply capacity to underpin long-term sales agreements with Asian utilities and industrial customers.

Existing Production Portfolio: Pluto and North West Shelf

Woodside operates two producing LNG assets in Western Australia: the Pluto LNG facility on the Burrup Peninsula, and the North West Shelf LNG venture, in which Woodside is a major participant alongside Shell, BP, BHP, Chevron, and Japanese joint venture partners. The North West Shelf has been one of the world's most significant LNG facilities since first production in 1989. Together, these assets have made Woodside one of the world's most significant LNG producers and established it as a critical supplier to energy security in Japan, China, South Korea, Taiwan, and other Asia-Pacific economies.

International Assets: Sangomar and Gulf of Mexico

Beyond its core Australian operations, Woodside's international portfolio includes Sangomar, an oil development offshore Senegal in West Africa that achieved first oil production in 2024, adding a new producing asset to the Company's portfolio. Woodside also expanded its US Gulf of Mexico presence through the merger with BHP's petroleum assets in 2022, which brought Gulf of Mexico natural gas production and a 25% interest in the Corpus Christi LNG facility in Texas operated by Cheniere Energy. This international diversification reduces Woodside's exposure to a single geographic market and provides exposure to the fast-growing US LNG export sector.

Energy Transition and Long-Term LNG Demand

Woodside has positioned natural gas and LNG as central to the global energy transition as a lower-emission transition fuel, particularly for Asian markets where it displaces coal in power generation and provides firm power backup for variable renewable energy sources. The Company has been investing in new energy opportunities including hydrogen, ammonia, and carbon capture and storage, though these activities are at early commercial stages. Woodside's long-dated LNG sales agreements with Asian utilities provide revenue certainty for its existing production assets.