Woodside Energy Group Ltd · ASX:WDS
Woodside Energy — Corporate Update (April 2025)
37 slides from Woodside Energy's corporate update, Apr 29, 2025
Slide 1: Woodside approves Louisiana LNG development
Woodside approves Louisiana LNG development www.woodside.com investor@woodside.com 29 April 2025 Creating a global LNG powerhouse
Slide 2: Information
Information This presentation has been prepared by Woodside Energy Group Ltd (“Woodside”). All information included in this presentation, including any forward-looking statements, reflects Woodside’s views held as at the date of this presentation and, except as required by applicable law or regulati
Slide 3: Forward-looking statements and reserves disclosure
All forward-looking statements contained in this presentation reflect Woodside’s views held as at the date of this presentation and, except as required by applicable law or regulation, Woodside does not intend to, undertake to, or assume any obligation to, provide any additional information or updat
Slide 4: Louisiana LNG development approved
Louisiana LNG development approved Develops world-class asset Compelling investment Generates long-term value Three-train 16.5 Mtpa development at fully permitted site, leveraging best-in-class technology De-risked low-cost development, benefits from foreign trade zone Targeting first LNG 2029 Excee
Slide 5: Generating long-term value
Generating long-term value LNG project cost is $15.9 billion, or ~$960/tonne, and includes EPC, owner’s cost and contingency costs. Pipeline cost is $1.1 billion. Management reserve contains allowances for tariffs and business unit costs. See “Woodside announces Louisiana LNG partnership with Stonep
Slide 6: Building a highly cash generative business
Building a highly cash generative business Assumes Woodside share of LNG in 2024 at 2024 equity interests. Indicative, not guidance. Metrics in 2030s represent Woodside’s current equity interest of 100% in HoldCo. Assumes ~8 Mtpa of Louisiana LNG volumes are taken into Woodside’s global marketing po
Slide 7: Louisiana LNG Development
Woodside Energy LOUISIANA LNG DEVELOPMENT
Slide 8: Advantaged and de-risked US greenfield project
Advantaged and de-risked US greenfield project Equipment and materials comprise ~25% of the Bechtel EPC cost. Assumes 60% equity interest in Louisiana LNG Infrastructure LLC (InfraCo) held by Louisiana LNG LLC (HoldCo) and Woodside equity interest of 100% in HoldCo. Real terms 2024. Cost and schedul
Slide 9: Leveraging best-in-class technology
Leveraging best-in-class technology Integrated compression line = ICL. Zero-emissions during operation and pressurised stand by. Being an electrical driven compressor, emissions are proportional to electrical grid power generation emissions. In the case of green electrical power, ICL is reducing up
Slide 10: Supports Woodside's carbon competitiveness
Supports Woodside’s carbon competitiveness Zero emissions here refers to Scope 1 emissions only. Woodside analysis. Scope 1 and 2 gross equity greenhouse gas emissions intensity. Louisiana LNG train emissions intensity refers to the estimated intensity at full production volumes of the LNG product o
Slide 11: Abundant low-cost gas resource base
Abundant low-cost gas resource base S&P Global Commodity Insights. S&P study completed in December 2024. The total US gas market is currently ~105 Bcf/day. Technical gas resource. Other marginal plays are scattered around the United States and may not be within well known play designations. Vast maj
Slide 12: Diverse inter and intra-state pipeline network
Diverse inter and intra-state pipeline network Layered approach to portfolio gas transportation Line 200 Pipeline to access Gillis Hub network Integration and diversity of supply provides reliability and reduces portfolio risk Targeting to secure firm transportation capacity early to ensure reliable
Slide 13: Increasing exposure to international pricing
Increasing exposure to international pricing International gas pricing provides optionality to take advantage of price volatility Initial sales to target Europe or Asia linked to international gas hub and/or crude pricing Opportunity to develop new and emerging markets with global footprint SPAs wit
Slide 14: Capital cost and integrated schedule
Capital cost and integrated schedule LNG project cost is $15.9 billion and includes EPC, owner’s cost and contingency costs. Pipeline cost is $1.1 billion. Management reserve contains allowances for tariffs and business unit costs. Assumes 60% equity interest in Louisiana LNG Infrastructure LLC (Inf
Slide 15: Disciplined capital management
Safe, reliable and low-cost operations Investment expenditure Strong balance sheet Dividend policy (minimum 50% payout ratio) Special dividends Share buy-backs Investment grade credit rating3 Maintain dividend based on NPAT excluding non-recurring items, targeting 50-80% payout ratio Targeting 10-20
Slide 16: Design utilises US content and labour
Design utilises US content and labour Louisiana State University Center for Energy Studies Report, 14 March 2025. Direct jobs. Includes direct labour on the construction site and all labour used to make materials purchased for construction (e.g. pipe fabricators). LNG project cost is $15.9 billion a
Slide 17: Competitive cost of supply
Competitive cost of supply Cash margin is revenue less operating costs excluding tax. Sensitivity assumes 8 Mtpa, reflecting the volumes Woodside anticipates in its portfolio. Nominal terms 2035. For further information on Louisiana LNG volumes to be included in Woodside’s portfolio, refer to slide
Slide 18: Flexibility enables value capture in fragmented markets
Flexibility enables value capture in fragmented markets Real terms 2024. Brent assumes shipping to Asia. JKM is adjusted for shipping. TTF is adjusted for shipping and regasification. Source: S&P. Volatility in gas and LNG markets driven by short term events including weather, geopolitical events, a
Slide 19: Portfolio overview
Woodside Energy PORTFOLIO OVER'
Slide 20: Diversified LNG portfolio enables optimisation
Diversified LNG portfolio enables optimisation Assumes completion of the asset swap transaction between Woodside and Chevron - refer to announcement titled ‘Woodside simplifies portfolio and unlocks long-term value’ announced 19 December 2024. Completion of the transaction is expected to occur in 20
Slide 21: Unlocking Woodside's 2030 portfolio
Unlocking Woodside’s 2030 portfolio For further details on product sales and operating cash flow, refer to Woodside’s Annual Report 2024, released 25 February 2025. See “Woodside simplifies portfolio and unlocks long-term value” announced 19 December 2024 for details. Completion of the transaction i
Slide 22: Delivering the next generation of assets
Delivering the next generation of assets Net operating cash is indicative only, not guidance. Assumes 60% equity interest in Louisiana LNG Infrastructure LLC (InfraCo) held by Louisiana LNG LLC (HoldCo), and Woodside equity interest of 100% in HoldCo. Assumes ~8 Mtpa of Louisiana LNG volumes are tak
Slide 23: ® BB >3s oo 6.5 su
® BB >3s oo 6.5 su
Slide 24: Investing in US prosperity
Investing in US prosperity Estimated combined tax rate of 25.35 (21% + (5.5% x 79%)). Louisiana State University Center for Energy Studies Report, 14 March 2025. Direct jobs. Includes direct labour on the construction site and all labour used to make materials purchased for construction (e.g. pipe f
Slide 25: Louisiana LNG development approved
Louisiana LNG development approved Develops world-class asset Compelling investment Generates long-term value Three-train 16.5 Mtpa development at fully permitted site, leveraging best-in-class technology De-risked low-cost development, benefits from foreign trade zone Targeting first LNG 2029 Excee
Slide 26: Q&A
Q&A Meg O’Neill Chief Executive Officer and Managing Director
Slide 27: w (4 =) x (fr Zz Zz < v Woodside Energy
w (4 =) x (fr Zz Zz < v Woodside Energy
Slide 28: Proven formula to de-risk major projects
Louisiana LNG Opportunity Offtake and EPC Partners Execution 2024 Bechtel contract, 95% costs fixed 2025 SPAs signed with Uniper 2024 Acquisition First LNG Targeted for 2029 Proven formula to de-risk major projects Woodside Energy First Quarter 2025 Report, released 23 April 2025. Scarborough Energy
Slide 29: Foundational structure
Foundational structure See “Woodside announces Louisiana LNG partnership with Stonepeak” announced 7 April 2025 for details. Closing is targeted in the second quarter of 2025. See “Woodside signs LNG supply agreements with Uniper” announced 16 April 2025 for details. Simplified structure overview B
Slide 30: Effective interest and accounting implications
Effective interest and accounting implications Louisiana LNG is expected to be reported at 100% in Woodside’s financial reports which will result in: Reporting 100% of the project assets, liabilities, revenues and expenses; and A non-controlling interest (NCI) balance reported in equity for the mino
Slide 31: Significant cash generation potential
Significant cash generation potential Cash margin is revenue less operating costs (including shipping) excluding tax. Sensitivity assumes 8 Mtpa, reflecting the volumes Woodside anticipates in its portfolio. Nominal terms 2035. 40+ year asset life with abundant US gas supply Asset scale enables sign
Slide 32: Developing LNG at the right time
Developing LNG at the right time Source: Wood Mackenzie. Global Gas Outlook April 2025. LNG demand Under construction supply Operational supply Louisiana LNG (Trains 1-3) Louisiana LNG Trains 4-5 (subject to FID) Emerging supply gap Supply shortfalls forecast to begin from ~2030 Louisiana LNG to com
Slide 33: Well-positioned for uncontracted LNG demand
Well-positioned for uncontracted LNG demand Source: Wood Mackenzie. Global Gas Outlook April 2025. Europe Northeast Asia (Japan, Korea, Taiwan) South and Southeast Asia Contracted LNG demand Uncontracted LNG demand China Evolving LNG market dynamics favors a portfolio producer Well-positioned to tak
Slide 34: Final investment decision considered climate-related factors
Final investment decision considered climate-related factors Woodside’s current equity interest of 100% in HoldCo. For information about Woodside’s scenario analysis testing of portfolio cash flow resilience please see pages 52-53 of the Woodside 2023 CTAP available on the Woodside website at https:
Slide 35: Glossary
Glossary $, $m, $B US dollar unless otherwise stated, millions of dollars, billions of dollars A$, AUD Australian dollar Aspiration Woodside uses this term to describe an aspiration to seek the achievement of an outcome but where achievement of the outcome is subject to material uncertainties and co
Slide 36: Glossary
Glossary Mtpa Million tonnes per annum NCI Non-controlling interest Net debt Interest-bearing liabilities and lease liabilities less cash and cash equivalents Net equity greenhouse gas emissions Woodside’s equity share of net greenhouse gas emissions which includes the utilisation of carbon credits
Slide 37: Head Office
Head Offi Woodside Energy Mia Yellagonga 11 Mount Street Perth WA 6000 Australia Postal Address: GPO Box D188 Perth WA 6840 Australia T; +61 8 9348 4000 F: +61 8 9214 2777 E: companyinfo@woodside.com Woodside Energy Group Ltd ABN 55 004 898 962 woodside.com 00009 wee
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