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Australia’s Woodside Bets Big on LNG Boom With 2032 Growth Plan
Yahoo Finance· 2025-11-05 08:10
Core Insights - Woodside Energy anticipates a 50% increase in crude oil and natural gas sales by 2032, driven by rising energy demand, particularly in Asia [1] - The company projects annual sales growth of 6%, potentially reaching 300 million barrels of oil equivalent by 2032, with net operating cash flow expected to rise to $9 billion from $5.8 billion in 2024 [1] LNG Growth - Woodside expects LNG capacity to grow from 19 million tons annually in 2024 to 40 million tons by 2032, with global LNG demand forecasted to increase by 60% by 2035 [2] - The company's strategic positioning across the Atlantic and Pacific basins, along with its marketing and trading capabilities, will enhance its ability to meet customer needs [2] Production Expansion - Production from the Scarborough LNG facility is set to commence in 2026, adding 8 million tons to annual production capacity [3] - Between 2029 and 2031, Woodside plans to increase capacity by an additional 16.5 million tons from the Louisiana LNG plant, which has a total project cost of $17.5 billion [3] Crude Oil Production - Woodside aims to increase crude oil production by 100,000 barrels per day with the Trion field's startup in 2028, in which Woodside holds a 60% stake [4] - The Trion field, discovered in 2012, was developed in partnership with Pemex due to resource constraints faced by the latter [4]