Woodside Output Plummets Amid Cyclone Disruptions, Scarborough Project on Track

Woodside Energy Group Ltd., Australia's largest natural gas exporter, reported a significant drop in output for the second quarter due to cyclone-related disruptions and maintenance at its Pluto export plant.

The company's gas production fell by 27% from the same period last year, while total output declined by 18% to 41.3 million barrels of oil equivalent (MMboe).

Despite this setback, Woodside's Chief Executive Officer Liz Westcott expressed optimism about new supply opportunities for Australian natural gas.

The company narrowed its full-year guidance to 174-185 MMboe and is targeting first LNG shipments from its Louisiana project in 2029. The Scarborough project in Western Australia remains on track for its first LNG shipment in the fourth quarter, with 98% completion.