Woodside Natural Gas Output Slumps on Cyclone, Maintenance

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessWoodside Natural Gas Output Slumps on Cyclone, MaintenanceWoodside Energy Group Ltd., Australia’s biggest natural gas exporter, said output slumped by more than a quarter in the three months through June after a cyclone that impacted operations and planned maintenance at its Pluto export plant.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Woodside Energy Group Ltd., Australia’s biggest natural gas exporter, said output slumped by more than a quarter in the three months through June after a cyclone that impacted operations and planned maintenance at its Pluto export plant.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountGas production fell by 27% from a year earlier in the second quarter, while total output declined 18% to 41.3 million barrels of oil equivalent, Woodside said Wednesday in a regulatory filing. Average realized prices rose 44% in the period, as the closure of the Strait of Hormuz impacted shipments from rival liquefied natural gas producers including Qatar. “New gas supply from Australia is something that customers are very keen to see,” Chief Executive Officer Liz Westcott said in an interview. “They’re keen to be part of existing projects with offtake agreements” and to “participate in new supply,” she said.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe Scarborough project in Western Australia is 98% complete and on track for its first LNG in the fourth quarter, Woodside said. The Trion field off Mexico is targeting first oil in 2028, and Louisiana LNG aims for its first shipment by 2029. “The key test will be executing on Scarborough’s fourth-quarter start-up to put gas volumes back on the expected growth trajectory,” said Rohan Bowater, analyst at Melbourne-based think tank Accela Research.The company narrowed its full-year guidance to 174 million to 185 million barrels of oil equivalent. LNG prices improved from the previous three months because of global supply constraints while price lags from the second quarter are expected to be realized in the period through September, Woodside said.Woodside shares rose as much as 1.2% to A$32.68 as of 11:45 a.m. in Sydney after Brent crude oil gained as much as 4.8%.(Updates with CEO comments in third paragraph. A previous version of this story corrected the day of the week)This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.