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December 8, 2021updated 21 Jul 2022 8:07am

Woodside Petroleum’s $5bn emerging energy investments

Woodside has pledged $5bn worth of funding for decarbonisation technologies– including hydrogen and CCS – by 2030.

By Scarlett Evans

Australian petroleum exploration and production major Woodside Petroleum has announced a spate of new investments into energy projects over the next decade, valued at $5bn.

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The announcement was made on Wednesday by chief executive Meg O’Neill, who said that the series of investments will seek to progress clients’ decarbonisation efforts, with a focus on supporting emerging clean energy technologies.

“We have a vision to build a low cost, lower carbon, profitable, resilient, and diversified portfolio,” O’Neill said. “Woodside aims to do this by leveraging our world-class Tier 1 portfolio and allocating capital to the right opportunities at the right time. Our investment decisions are informed by robust market analysis, so we understand macro trends for our products and a range of outcomes dependent on different climate scenarios.”

“We expect that in the mid-2020s, the transition to new energy will be underway, including the start up of the first of our own projects,” she added.

The investments will be primarily focused on hydrogen and carbon capture and storage (CCS), though O’Neill also said that Woodside expects its liquefied natural gas assets to remain a core part of the business as the fuel remains a crucial part of the global energy mix to for “decades to come”.

Three hydrogen projects are to receive funding from the company; one in the US and two in Australia. The former will be looking to produce liquid hydrogen, while the latter will develop ammonia from hydrogen. According to O’Neill, these projects will start small, with “the potential to build scale”.

The investment, however, is not yet confirmed, as Woodside awaits its merger with BHP’s petroleum arm to receive final approval. This $28bn partnership was envisioned as a means of creating a leading oil and gas company, and would see significant cash flow back into Woodside which would support the new investments.

A final vote on the merger is expected in the second quarter of 2022.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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