BAKU, Azerbaijan, November 13. Woodside Energy said current market volatility, including shipping disruptions in the Strait of Hormuz, the Red Sea, and the Panama Canal, reinforces demand for reliable LNG and oil supplies, according to the company's Capital Markets Day 2026 presentation.
According to the company, the Russia-Ukraine conflict caused significant supply disruptions. Markets responded by securing alternative LNG supplies, building regasification and storage capacity, and reconfiguring trade flows. Disruptions in the Red Sea and Panama Canal forced cargoes to be rerouted and voyages to lengthen, while trade flows through the Strait of Hormuz have been limited.
Woodside also noted that about 21 Mtpa of new US LNG capacity was sanctioned in the past 12 months. It expects tighter competition in the early 2030s, along with supply chain constraints and cost pressures on new projects.
The company also pointed to data center growth, with global power demand from data centers growing by about 30 percent per year.
Woodside Energy, headquartered in Perth, is Australia's largest independent oil and gas company and is listed on the Australian Securities Exchange and the New York Stock Exchange. Its portfolio includes LNG and domestic gas operations in Australia, deepwater oil in the US Gulf of America, the Sangomar oil field in Senegal, and the Trion project under development in Mexico. The company has operated LNG since 1989, when the first cargo was delivered from the North West Shelf, and has delivered more than 7,700 cargoes since then. It currently operates about 19 Mtpa of liquefaction capacity at the Karratha Gas Plant (14.3 Mtpa) and Pluto LNG (4.9 Mtpa). Woodside's Capital Markets Day market outlook draws on data from Wood Mackenzie, S&P Global, and Rystad Energy.
