Ann: Q2 2021 Report, page-39

Re lower pricing slope on LNG a few noted:

“Woodside should be benefiting more from high LNG prices than they are,” said Bernstein Research analyst Neil Beveridge, noting Woodside’s LNG sales price edged up just 3 per cent from the March quarter to $US7.10 per million British thermal units. Second-half revenues should be stronger, with the three-month lag between crude oil prices and LNG prices, he said.

JPMorgan’s Mark Busuttil calculated the LNG price represented a “slope” between LNG and crude oil of just 11.6 per cent in the quarter, signalling a slide in the indexation to oil from 15 per cent in the June quarter of last year.

I really think this requires some serious questions at the 1H results call.