Woodside Targets 6% CAGR Growth to $9B Operating Cash Flow by 2030s

Woodside’s Strategic Vision Amid Energy Transition

At its 2025 Capital Markets Day, Woodside Energy Group laid out a comprehensive strategy to navigate the evolving energy landscape while delivering long-term shareholder value. CEO Meg O’Neill emphasized the company’s commitment to thriving through the energy transition by leveraging its world-class assets, integrated value chain, and strong balance sheet.

Woodside aims to maximize performance from its base business, deliver cash-generative projects, and create future growth opportunities. The company projects a net operating cash flow increase to approximately US$9 billion by the early 2030s, representing a compound annual growth rate exceeding 6% from 2024. This financial strength underpins a pathway to boost dividends per share by 50% from 2032 onwards.

Key Growth Projects Driving Expansion

Woodside’s growth is anchored by several major projects at various stages of development. The Beaumont New Ammonia project is nearing completion with first ammonia expected this year, positioning Woodside in the expanding lower-carbon ammonia market. The Scarborough Energy Project is on track for first LNG shipments in the second half of 2026, integrating seamlessly with existing infrastructure to optimize gas flows.

Internationally, the offshore Mexico Trion oil field targets first oil in 2028, leveraging Woodside’s deepwater expertise and operational excellence. Meanwhile, the Louisiana LNG development, currently 19% complete, is expected to start up in 2029, significantly expanding Woodside’s footprint in the Atlantic Basin and enhancing its global LNG portfolio.

Operational Excellence and Capital Discipline

Woodside’s strategy is underpinned by a disciplined approach to capital management and operational efficiency. The company maintains a strong investment-grade credit rating (Baa1/BBB+) and has returned approximately US$11 billion in dividends since 2022. Unit production costs remain tightly controlled, with a focus on innovation, digital transformation, and cost reduction initiatives such as AI-augmented analytics and 3D printing of critical parts.

Operational reliability remains a hallmark, with LNG assets consistently delivering around 98% uptime and a strong safety record. Woodside continues to optimize its portfolio through strategic asset swaps and divestments, enhancing flexibility and value capture in a volatile market.

Sustainability and Emissions Reduction

Woodside is advancing its climate commitments with targets to reduce net equity Scope 1 and 2 greenhouse gas emissions by 15% by 2025 and 30% by 2030, with a net zero aspiration by 2050. The company is also investing US$5 billion in new energy products and lower-carbon services by 2030, including carbon capture utilization and storage (CCUS), hydrogen, and ammonia.

The Beaumont New Ammonia project exemplifies Woodside’s lower-carbon ambitions, with an emissions intensity significantly below conventional ammonia production. Woodside’s integrated approach to sustainability balances operational performance with environmental stewardship and Indigenous engagement.

Global Marketing and Portfolio Flexibility

Woodside’s expanding marketing and trading platform enhances its ability to capture value across diverse markets. The company’s LNG portfolio spans the Pacific and Atlantic basins, with a balanced mix of long-term, medium-term, and spot contracts indexed to oil and gas prices. This diversification provides resilience against market volatility and positions Woodside to meet growing global energy demand effectively.

Strategic partnerships and shipping capabilities further enable Woodside to optimize cargo delivery and respond flexibly to shifting market dynamics. Recent contract wins across Asia, Europe, and emerging markets underscore the company’s strong customer relationships and competitive positioning.