LNG

Woodside’s Scarborough Energy Project has overcome its final Commonwealth environmental hurdle with the Federal Court upholding NOPSEMA’s approval of the Scarborough Operations Environment Plan. This allows Woodside to proceed with connecting and operating the Scarborough floating production unit. CEO Meg O’Neill emphasized the project’s economic benefits and role in providing low-carbon LNG to Asian markets and bolstering domestic gas supply. The project, 86% complete as of June 30, 2025, is expected to produce 8 million tonnes of LNG per year and contribute to Western Australia’s domestic gas supply. First LNG cargo is anticipated in H2 2026.

Woodside Energy Group’s (ASX: WDS, NYSE: WDS) half-year report, ending June 30, 2025, reveals a strong performance with a focus on value and growth. Highlights include a fully franked interim dividend of 53 US cents per share, production of 548 Mboe/d, and advancements in major projects like Scarborough (86% complete) and Trion (35% complete). Woodside made FID on the Louisiana LNG Project and sold a 40% stake in its infrastructure to Stonepeak. Net profit reached $1,316 million.

Woodside has finalized the sale of a 40% interest in Louisiana LNG Infrastructure LLC to Stonepeak. Stonepeak will inject $5.7 billion into the project, contributing 75% of the CAPEX in 2025 and 2026. Woodside received approximately $1.9 billion upon closing and aims to boost shareholder returns. The partnership will accelerate LNG development and leverage Stonepeak’s investment expertise in the US gas infrastructure market. Louisiana LNG has a total permitted capacity of 27.6 Mtpa.

Flex LNG Ltd. announced the successful completion of a $175 million JOLCO lease financing for the Flex Courageous, generating $42 million in net proceeds and extending debt maturity to 2035, while reducing debt costs. This is the first step in the company’s refinancing program targeting three vessels with a 37-year backlog. Flex LNG plans to refinance two more vessels in 2025 to further strengthen its financial position, which is already robust with a cash balance of $410 million.