Woodside expects global LNG demand to rise by 50% to 2030
Woodside Energy, Australia's top natural gas producer, expects global liquefied natural gas (LNG) demand to increase by 50% from now to 2030, CEO Meg O'Neill said on Tuesday.
"The message is very clear, consistent, around the desire for more affordable reliable energy for nations on their journey towards net zero and gas is absolutely a part of the mix," O'Neill said at the World Gas Conference.
Customers say they want to lock in liquefied natural gas (LNG) supply into the 2040s, she said.
The tremendous increase in gas demand means that suppliers need to do their best and Woodside is investing in cost-competitive projects, O'Neill said.
"We have to go where the gas is," she said.
"It was very clear that a position in the Atlantic basin was going to be very complementary to our Australian position," she added, referring to its $1.2-B acquisition of the Louisiana LNG project last year.
"But at the end of the day we're still an Australian company. We're investing in Scarborough, expecting first LNG in second half of next year," O'Neill said.
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