Woodside unveils energy transition strategy
The strategy to adapt with energy transitioning has been unveiled by Woodside, which includes a $5 billion investment in markets of emerging energies by 2030.
The investment, however, assumes the project merger with BHP’s petroleum business is completed.
“We expect LNG to remain an important part of the energy mix in our region for decades to come, both as a lower-carbon source of fuel for coal-dependent countries and as convenient firming capacity for renewables,” said Meg O’Neill, Woodside CEO.
By the mid-2020’s, the company aims to:
· Achieve start-up of new energy projects
· Scale-up carbon offset projects
· Export ammonia from Australia
· Develop carbon capture utilisation (CCU) opportunities
· Progress CCS opportunities
In 2021, Woodside announced a proposed merger with BHP’s petroleum business after final investment decisions were made surrounding the Scarborough and Pluto Train 2 projects.
Ms O’Neill added, “The merged portfolio would have an exciting pipeline of near-term developments: Sangomar in Senegal; Mad Dog Phase 2, Shenzi North and other attractive opportunities in the Gulf of Mexico; and Scarborough offshore Western Australia.”
On top of this, the company released progress on four other projects including: H2Perth and H2TAS in Australia and the expansion of the Woodside into America with Heliogen and H2OK.