Woodside is keeping the lights on, while working towards a lower carbon future

Woodside is a global energy company, supplying natural gas to the Australian domestic market and LNG to customers in Asia, including buyers in Japan, China and the Republic of Korea.

The company was founded in Australia with a spirit of innovation and determination. The world needs energy that is affordable, reliable and lower carbon to support a successful energy transition. 

Woodside provides energy to heat and cool homes, keep lights on and support industry. We aim to thrive through the global energy transition with a low cost, lower carbon, profitable, resilient and diversified portfolio.

Woodside passed a significant milestone in our 68-year history in 2022, when we merged with BHP’s petroleum business. The merger increased the scale and diversification of our global portfolio, which now includes oil and gas assets and interests in Australia, the Gulf of Mexico, the Caribbean, Senegal and Timor-Leste. We also have a focused exploration program. 

In operations our focus remains on safety, reliability, efficiency and environmental performance, leveraging almost four decades of operating experience which began with the startup in the 1980s of the Woodside-operated North West Shelf Project in Western Australia. The North West Shelf’s Karratha Gas Plant is one of the most advanced, integrated gas production systems in the world, producing LNG, domestic gas condensate and LPG.

Woodside is also the operator of Pluto LNG, located adjacent to Karratha Gas Plant; oil operations offshore Western Australia; the Shenzi oil and gas fields in the US Gulf of Mexico; and the Greater Angostura oil and gas field offshore Trinidad. We hold non-operating interests in the Wheatstone gas and Bass Strait oil and gas projects in Australia and the Mad Dog and Atlantis oil and gas fields in the US Gulf of Mexico.

In addition to our core operations, Woodside is pursuing growth opportunities across gas, oil and new energy, and we have several projects currently in execution phase.

The Scarborough and Pluto Train 2 projects in Australia achieved a positive final investment decision (FID) in November 2021. Overall, the projects were 30% complete at the end of March and we are targeting first LNG cargo in 2026.

In Senegal, the Sangomar Field Development Phase 1 is more than 80% complete. Shenzi North, a brownfield expansion of the Shenzi project, is targeted for first oil in 2024. In June this year we took a positive FID on the Trion deepwater oil development offshore Mexico. Trion is targeted for start-up in 2028.

Woodside’s climate strategy has two key elements: reducing our net equity Scope 1 and 2 greenhouse gas emissions; and investing in the products and services to help our customers secure their energy needs and reduce their emissions.

Woodside has targets to reduce our net equity Scope 1 and 2 greenhouse gas emissions by 15% by 2025 and 30% by 2030 (relative to a starting base representative of the gross annual average over 2016-2020), towards our aspiration to achieve net zero by 2050 or sooner.

We also have a target to invest US$5 billion in new energy products and lower carbon services by 2030.

We take a disciplined and prudent approach to investment through our capital allocation framework, with the goal to manage financial risks and maintain a resilient financial position to allow us to optimise the value delivered from our portfolio of opportunities.

Our new energy opportunities include the proposed liquid hydrogen project H2OK in the US, where front-end engineering design was completed in 2022 and where we are targeting to be ready for FID this year. We are also assessing hydrogen and ammonia projects H2Perth and H2TAS in Australia, and the proposed Southern Green Hydrogen in New Zealand.

These projects have the potential for significant future growth as customer demand increases and technology reduces the cost of supply.

Woodside’s environmental, social and governance aspirations are driven by integrity, accountability and transparency and these principles guide decision making at all levels of our business.

We strive to operate responsibly across all of our business and enduring and meaningful relationships with communities are fundamental to our social performance.

Gastech is at the heart of natural gas, LNG, hydrogen, low-carbon solutions, and climate technologies

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