Woodside signs about 3.5 Mtpa of LNG supply deals to Europe

Woodside Energy projects European LNG demand to rise by 39 Mtpa by 2040, a 30% increase, according to its Capital Markets Day 2026 presentation. The company's Louisiana LNG project, acquired from Tellurian, aims for first LNG in 2029, with potential expansion adding 11.1 Mtpa. Woodside is Australia's largest independent oil and gas company, listed on the ASX and NYSE.

Abu Dhabi's XRG is investing $1.45B for a 16.67% stake in Australia's North West Shelf gas project, run by Woodside Energy, pending government approval. This deal may facilitate the development of the undeveloped Browse gas project and extend the North West Shelf's lifespan. Qatar is also investing in U.S. LNG projects, including a 70% stake in Texas' Golden Pass project.

Woodside Energy plans to cut over 500 jobs globally to achieve $400M in annual cost savings by 2028, according to its Capital Markets Day 2026 presentation. Savings will come from streamlined processes, reduced external spending, and portfolio optimization. The company is listed on the ASX and NYSE.

Woodside Energy has agreed to supply Türkiye's BOTAŞ with 0.5 million tonnes per annum of LNG for nine years starting in 2030. This deal is part of Woodside's 11 Mtpa of LNG agreements signed in the past two years. The company's portfolio includes oil-linked and gas-linked pricing, with projects in Australia and the US.

Woodside Energy raised its annual cost-cutting target to $400 million from 2028, up from a previous goal. Savings will come from portfolio optimization, streamlined processes, and reduced external spending. CEO Liz Westcott emphasized improving operational efficiency and productivity. The company is listed on the Australian and New York stock exchanges.

Woodside Energy aims for a 12-15% return on capital employed by the mid-2030s, driven by projects like Scarborough, Trion, and Louisiana LNG, cost cuts, and marketing. The target assumes a Brent price of $70/barrel. Woodside is listed on the ASX and NYSE.