Woodside Power Group Ltd. is getting ready to present the go-ahead for its Louisiana LNG venture as Australia’s greatest pure fuel producer seems to be past its core markets in Asia.
The corporate is “within the means of bringing companions into that improvement” and needs to make a ultimate choice from this quarter, Chief Government Officer Meg O’Neill mentioned in an interview with Bloomberg TV on Tuesday. That can assist an enlargement away from its crops in Australia, which primarily provide Asian prospects, she mentioned, after the corporate reported a doubling in revenue earlier within the day.
“One of many issues that we try to do at Woodside is to develop into a extra globally impactful LNG participant — we’ve used the phrase LNG powerhouse prior to now,” O’Neill mentioned. “Louisiana LNG helps us to safe a fabric presence within the Atlantic Basin into European shoppers.”
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Woodside is “seeing loads of slowing” in competing LNG initiatives, however would nonetheless be excited by off-take agreements with them, she mentioned. Geopolitical developments imply there’s “rather a lot to maintain monitor of in our world in what we count on will proceed to be a risky yr,” O’Neill mentioned.
The Perth-based firm reported internet earnings of $3.57 billion for final yr, up from $1.66 billion in 2023, and forward of a consensus estimate of $3.36 billion. Manufacturing rose 4 % to 194 million barrels of oil equal.
Manufacturing steerage for this yr was stored at 186 to 196 million barrels, of which about 40 % is LNG. Underlying revenue fell 13 % from a yr earlier to $2.88 billion.
Woodside shares rose as a lot as 3.5 %, their greatest intraday bounce since early October, earlier than buying and selling 2.8 % increased as of three:39 p.m. in Sydney.
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