Woodside Energy Group Ltd (WDS) Q4 2024 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.914 So if we look at many of the competing U.S. 00:00:02.914 -- 00:00:07.080 Gulf Coast or even the Mexican Gulf Coast projects, 00:00:07.080 -- 00:00:10.043 there are very few that have that attribute. 00:00:10.043 -- 00:00:14.368 So we've got everything fully locked in with Bechtel from a pricing perspective. 00:00:14.368 -- 00:00:19.655 It is for three trains. And the marketing we've been doing with our potential partners 00:00:19.655 -- 00:00:24.441 is focused on that foundation development of three trains. 00:00:24.441 -- 00:00:29.681 Now, the mechanics with which we progress to full notice to proceed The 00:00:29.681 -- 00:00:33.830 first notice will be for Trains 1 and 2, and there'll be a subsequent notice for Train 00:00:33.830 -- 00:00:39.541 3. But again, the pricing is based on three trains, and our expectation and the expectation 00:00:39.541 -- 00:00:44.571 we're communicating to all of our prospective partners is that the plan is to move 00:00:44.571 -- 00:00:47.012 ahead with the foundation. 00:00:47.129 -- 00:00:52.136 Got it. Thanks, Meg. And my second question, just picking up on Graham's comments 00:00:52.136 -- 00:00:56.401 that Woodside would consider additional shareholder returns post the start-up of Scarborough, 00:00:56.401 -- 00:01:01.628 should we interpret that comment to mean they expect gearing to peak just after the start-up 00:01:01.628 -- 00:01:04.251 of the Scarborough project? Thank you. 00:01:04.251 -- 00:01:09.398 Thanks, Nick. So I guess if we take a step back, we've discussed about 00:01:09.398 -- 00:01:12.362 our three near-term 00:01:12.362 -- 00:01:17.558 growth and positive MPV projects being Sangamah delivering very well, You've 00:01:17.558 -- 00:01:22.664 seen delivered $950 million cash t...