• About
  • Advertise
  • Subscribe
  • Contact
  • Events
Monday, June 23, 2025
Newsletter
SUBSCRIBE
  • News
    • Events
  • Features
  • Electricity
  • Gas
  • Renewables
    • Batteries & Storage
    • Hydro Power
    • Hydrogen
    • Solar
    • Wind
  • Smart Energy
No Results
View All Results
  • News
    • Events
  • Features
  • Electricity
  • Gas
  • Renewables
    • Batteries & Storage
    • Hydro Power
    • Hydrogen
    • Solar
    • Wind
  • Smart Energy
No Results
View All Results
Home News

Woodside unveils energy transition strategy

by Lauren DeLorenzo
December 14, 2021
in Company news, LNG, News, Projects
Reading Time: 3 mins read
A A
Woodside
Share on FacebookShare on Twitter

Woodside has revealed its strategy to adapt with the energy transition, including a $5 billion investment in emerging energy markets by 2030.

The investment assumes completion of the proposed merger with BHP’s petroleum business.

Woodside CEO, Meg O’Neill, said, “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.

“But our significant investment target in new energy is aimed at positioning Woodside as an early mover in this evolving market and supporting the decarbonisation goals of our customers. 

“Our investment decisions are informed by robust market analysis, so we understand macro trends for our products and a range of outcomes dependent on different climate scenarios.

“Individual opportunities are assessed through a disciplined capital allocation framework and clear investment criteria, always considering the fit with our emissions reduction targets and shareholder returns.”

Woodside’s energy transition plan is divided into three stages. The first stage, beginning in 2021, is market development, where Woodside will develop carbon capture and storage (CCS) opportunities and grow its portfolio.

By the mid-2020s, Woodside aims to:

  • Achieve the 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 2030 and beyond, Woodside plans to continue to scale-up CCS opportunities, expand production to meet market scale and export liquid hydrogen from Australia.

In 2021, Woodside reached final investment decisions on the Scarborough and Pluto Train 2 projects and announced a proposed merger with BHP’s petroleum business.

“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,” Ms O’Neill said.

“These, together with other potential oil, gas and new energy developments, will provide an enviable hopper of opportunities competing for capital. 

“Scarborough truly is a world-class project and the development of its 11 trillion cubic feet of gas through the expanded Pluto LNG facility is a gamechanger for Woodside. 

“The project has an internal rate of return of more than 13.5 per cent and a globally competitive cost of supply of LNG delivered to north Asia of $5.8 per MMBtu. 

“In recent months we announced progress on four new energy projects: H2Perth and H2TAS in Australia and Heliogen and H2OK in the US. 

“Our projects are designed to be phased, starting small with the potential to build scale. In each case the project location has been chosen for specific reasons, preferably near available renewables or close to market, ensuring they are customer-led.”

The pre-recorded Investor Update 2021 can be viewed at any time at the following link: https://www.woodside.com.au/media-centre/news-stories/story/2021-investor-update.

Related Posts

The right digital strategy can drive innovation and long-term resilience in the energy sector. Image: tharathip/stock.adobe.com

Accelerating the transition with digital technologies

by Sarah MacNamara
June 20, 2025

As Australia’s energy system scales up for a net zero future, Autodesk shares key strategies to streamline the sector’s digital...

Low visibility makes powerlines a serious hazard for aircraft and ground crews. Images: V-TOL Aerospace

Eyes on the wires

by Sarah MacNamara
June 20, 2025

With the national commitment to expand the energy grid to support renewables, V-TOL Aerospace is working to ensure this essential...

Standalone power systems are set to play an important role in Australia’s future energy mix. Images: Pacific Energy

Powering ahead with SAPS

by Sarah MacNamara
June 20, 2025

Pacific Energy is helping to shape Australia’s future energy system with its stand-alone power systems, designed and manufactured right here...

Read our magazine

Join our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.
Energy is a thought-leading, technology-neutral magazine, developed to help the industry answer some of the Energy sector critical questions it is currently grappling with.

Subscribe to our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

About Energy

  • About
  • Advertise
  • Subscribe
  • Events
  • Contact
  • Digital Magazine
  • Terms & Conditions
  • Privacy Collection Notice
  • Privacy Policy

Popular Topics

  • News
  • Spotlight
  • Renewable Energy
  • Electricity
  • Projects
  • Networks
  • Sustainability
  • Gas

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited

No Results
View All Results
NEWSLETTER
SUBSCRIBE
  • News
    • Events
  • Features
  • Electricity
  • Gas
  • Renewables
    • Batteries & Storage
    • Hydro Power
    • Hydrogen
    • Solar
    • Wind
  • Smart Energy
  • About
  • Advertise
  • Subscribe
  • Contact
  • Events
  • Newsletter

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited