WDS (ASX) Woodside

Originally posted by Michaelirish ↑

Woodside's Forecast: Global Gas Demand to Surge 50% by 2030

Woodside Energy, Australia's largest natural gas producer, has projected a substantial increase in global gas demand over the next five years. According to CEO Meg O'Neill, the company anticipates worldwide gas demand will grow by 50% between 2025 and 2030 . This forecast was announced at the World Gas Conference and reflects Woodside's strategic investments to position itself as a major supplier in this expanding market.
Key Drivers of Gas Demand Growth

Several factors are contributing to this expected surge in natural gas consumption:

Energy Transition Needs: Nations pursuing net zero emissions targets continue to rely on natural gas as a transitional fuel that provides affordable, reliable energy while reducing dependence on more carbon-intensive alternatives like coal .

Asian Market Expansion: Countries across Asia - including China, Japan, South Korea and ASEAN nations - are demonstrating sustained demand for natural gas as part of their energy mixes, representing over 25% of the world's population .

Coal Replacement: Natural gas serves as a lower-emission alternative to coal, with coal-to-gas switching being the largest single driver of emissions reduction in the U.S. power sector in 2023 6.

Support for Renewables: Gas plays a crucial role in stabilizing power grids with high renewable penetration, "firming up" intermittent supply from wind and solar .

Industrial Demand: Hard-to-abate sectors like high-temperature industrial processes and chemical feedstocks will maintain long-term gas demand 6.

Woodside's Strategic Response

To capitalize on this growth projection, Woodside is making significant investments:

The company recently acquired the Louisiana LNG project for $1.2 billion, complementing its Australian operations and providing access to Atlantic Basin markets .

Woodside has given final approval for a $17.5 billion LNG export project in Louisiana, targeting first shipments in 2029. This will position the company to handle over 5% of global LNG supply in the 2030s 4.

The Scarborough project in Australia is expected to deliver its first LNG in the second half of 2026 14.

Woodside is pursuing carbon capture projects with potential to store over 3 million tons annually by 2030, addressing emissions concerns 7.

Market Context and Competing Forecasts

While Woodside projects strong growth, other industry analyses provide context:

Shell similarly forecasts significant LNG demand growth through 2030 across all scenarios, though projections diverge after that point 9.

The International Gas Union warns that without additional production investment, demand could outpace supply by 2030, creating a potential shortfall of 927 billion cubic meters 10.

BloombergNEF anticipates the LNG market may become oversupplied by 2027 as new projects come online 4.

Conclusion

Woodside's bullish 50% demand growth forecast through 2030 reflects both the company's strategic positioning and broader energy market trends. As nations balance energy security, affordability and emissions reduction goals, natural gas appears set to play an expanding transitional role - particularly in Asia and hard-to-decarbonize sectors. Woodside's massive investments in Australian and U.S. LNG projects aim to secure its position as a leading supplier in this evolving energy landscape.

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Was this event held in China? Beijing.

I hope the Chinese lob a bid.

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Last $26.59		Change 0.020(0.08%)		Mkt cap ! $50.47B

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