Third Quarter 2020 Report

  • Oct 22, 2020
  • Woodside

"As expected, sales revenue in the third quarter was impacted by lower realised LNG prices, reflecting the oil price lag in many of our contracts. Pricing in the fourth quarter and in Q1 2021 is expected to be stronger given the improvement in oil price in recent months. In particular, I am encouraged by the strengthening Asian LNG spot price, which is now above $6.50/MMBtu for December deliveries.” CEO Peter Coleman said.

Highlights for the quarter included strong operating performance of our LNG facilities with high reliability at Pluto. We also completed planned maintenance at Karratha Gas Plant’s Train 3, with the facility returning to full operating rates. And for our developments, we increased our stake in the Sangomar Field Development offshore Senegal and project execution activities continued to plan. In Western Australia, we completed drilling activity for Pyxis Hub and Julimar-Brunello Phase 2.

We also concluded the first phase of the Greening Australia and Woodside Native Reforestation Project.