Asia-Pacific region expects LNG demand to rise but with delayed Australian volumes missing part of new wave
The Asia-Pacific region is expected to have gradually increasing liquefied natural gas demand, driven by the region's economic recovery and new regasification facilities coming online.
Woodside and Santos confirm merger talks that could create dominant Asia-Pacific LNG player valued at US$58Bln
Australia’s largest liquefied natural gas companies Woodside Energy and Santos said they were in discussions that could lead to a merger of the two companies valued at a combined A$88 billion (US$58Bln) and which would create a dominant LNG force in the Asia-Pacific region.
Woodside gas deal
April 26 (LNGJ) - Western Australian LNG plants operator Woodside Energy has finalised a 20-year domestic gas sale and purchase agreement with Perdaman Chemicals and Fertilisers after Perdaman’s positive final investment decision to construct a production plant near Karratha in the state’s Pilbara region.
“Pipeline gas sold under the GSPA is for use at the plant, which will produce an important fertiliser feedstock in support of both domestic and international agricultural users,” said Woodside. Gas will be supplied from Woodside’s portfolio and from the Scarborough gas project, a source of feed gas for the Pluto LNG expansion.
Woodside Energy reports soaring profits with record LNG output as well as record taxes and royalties paid
Woodside Energy, the operator of the Northwest Shelf LNG plant and the Pluto LNG facility in Western Australia, posted soaring annual net profits because of higher prices and the benefits of the merger with commodities giant BHP’s petroleum business.
Australian LNG operator Woodside posts annual revenues of US$16.85Bln as expansion projects advance
Woodside Energy, the Western Australian LNG plant operator and oil and gas producer, posted total annual sales revenues of US$16.85 billion compared US$6.97Bln in 2021 as prices soared and progress was made on LNG and oil growth projects.
Australian LNG operator Woodside reports multiple increase in quarterly revenues as projects advance
Australian LNG plant operator Woodside Energy reported a more than 3.5-fold increase in third-quarter revenues, reflecting higher sales volumes and surging average realised prices in the portfolio.
Woodside Energy Group CEO O’Neill says completion of BHP Petroleum merger starts new chapter
Woodside Energy Group Ltd, the new name of Australian LNG plants operator Woodside Petroleum, and BHP Group have formally completed the merger of Woodside with BHP’s oil and gas portfolio to create a global energy company.
As a result of the merger, Woodside said it was a top 10 global independent energy company by hydrocarbon production and the largest energy company listed on the Australian Securities Exchange.
Woodside said the larger, more diversified portfolio was expected to deliver significant cash flow to help fund committed projects and shareholder returns.
Woodside Chief Executive Meg O’Neill said completion of the merger was one of the most significant events in Woodside’s 67-year history and marked the start of a new chapter for the company.
Diverse portfolio
“The merger delivers a diverse portfolio of quality operating assets, plus a suite of growth opportunities across oil, gas and new energy that promises ongoing value for our shareholders,” stated O’Neill.
Woodside has acquired the entire share capital of BHP Petroleum International and issued 914.76 million new Woodside shares to BHP, which BHP will distribute to its eligible shareholders.
Woodside will receive net cash of about US$1 billion, which includes the cash remaining in the BHPP bank accounts immediately prior to completion.
This reflects $1.8Bln of net cash flows generated by BHPP between the effective date of 1 July 2021 and completion, less $800 million representing BHP’s entitlement to cash dividends paid by Woodside over the same period.
All completion payment entitlements are subject to a customary post-completion review which may result in an adjustment.
The new Woodside shares start trading on the ASX on 2 June 2022. Trading of Woodside American Depositary Shares on the New York Stock Exchange would commence on the same date.
London trading
Woodside shares will be traded on the main market of the London Stock Exchange on 6 June 2022.
The company has commenced activities to integrate the two organisations, including standardisation of reporting across all jurisdictions.
Woodside said the updated production guidance, reserves position and other related information will be released in due course.
Woodside’s net profit after tax for the first half of 2022 will incorporate the contribution of the BHPP portfolio from completion and the accounting treatment of the BHPP portfolio will align with Woodside’s policies.
“We are focused on unlocking pre-tax annual synergies of more than $400 million as we merge the two businesses,” said O’Neill.
“It is exciting to welcome the BHP Petroleum team to Woodside Energy and start delivering on our shared vision for the future,” she added.
Australia's Woodside clears final hurdles to start Scarborough Gas and Pluto LNG expansion projects
Woodside Petroleum, the Australian oil and gas company and LNG operator, has received final approvals for the pipeline to shore and for the field development plan Scarborough Gas project to underpin the Pluto LNG expansion in Western Australia.
Supreme Court of Western Australia dismisses environmental challenge to Woodside’s Pluto LNG project
The Supreme Court of Western Australia has dismissed two proceedings brought against the Chairman of the state’s Environmental Protection Authority challenging the Pluto LNG and Karratha Gas Plant environmental approvals made in 2019.
Western Australian LNG exporter Woodside benefits from price surge to more than triple quarterly income
Woodside, the Western Australian LNG exporter, posted a record US$2.35 billion of LNG sales in the fourth quarter, more than tripling the results of US$607 million in the prior-year quarter as prices sky-rocketed.
