SYDNEY, March 20, 2026, 08:38 AEDT
- Woodside shares closed Thursday at A$33.70, up A$2.26, or 7.2%. 1
- Brent crude settled at $108.65 after hitting $119.13, while European gas prices jumped as Middle East strikes hit oil and gas sites. 2
- Chief Executive Liz Westcott has called Louisiana LNG a “key priority” as Woodside heads into what she described as a “big year of delivery.” 3
Woodside Energy shares closed 7.2% higher on Thursday at A$33.70, as traders piled into energy stocks after oil and gas prices lurched higher and the company’s new chief executive sharpened focus on its LNG project slate. 1
The move matters now because Woodside is heading into a crowded year. Westcott, confirmed this week as CEO, has to bring Scarborough to first cargo, sell a 20% stake in Louisiana LNG, advance Trion in the Gulf of Mexico and secure the commercial terms and approvals needed for Browse, even as the company heads into lower 2026 output. 4
Markets had plenty to reprice. Brent ended at $108.65 a barrel after touching $119.13, European gas rose as much as 35%, and QatarEnergy’s CEO said damage at Ras Laffan had wiped out 17% of Qatar’s LNG export capacity for up to five years. LNG, or liquefied natural gas, is gas cooled into liquid form so it can be shipped by sea. 2
Westcott said Louisiana LNG would be a “key priority” over the next few months as Woodside looks for more investors for the U.S. project. She also told reporters 2026 would be a “big year of delivery” as Scarborough heads toward first cargo and Trion stays on track for a 2028 start. 3
Analysts framed her appointment as steady rather than radical. RBC’s Gordon Ramsay called Westcott a “low-risk appointment”, while ETF Shares CIO David Tuckwell said she was a “safe pair of hands”. Woodside has said output could dip 7% to 14% this year as older assets and maintenance weigh before Scarborough is due to ship first LNG in the fourth quarter. 4
Woodside added another boardroom change on Thursday, naming former Anglo American chief Mark Cutifani as an independent non-executive director. Chair Richard Goyder said Cutifani would strengthen oversight of large, capital-intensive businesses, underscoring how closely investors are watching spending control and execution. 5
The read-through was not limited to Australia. In the United States, LNG producers Cheniere Energy and Venture Global also surged after the Qatar damage, highlighting a broader scramble for companies tied to seaborne gas supply. 6
But the trade can turn fast. Oil finished well below Thursday’s highs after Washington floated sanction relief for stranded Iranian barrels and a possible release from the U.S. emergency oil reserve, and Kevin Morrison at the Institute for Energy Economics and Financial Analysis said Westcott will be “most closely judged” on Louisiana LNG as cost pressure hangs over the project. Browse also still needs commercial terms and environmental approvals. 2
Scarborough was 94% complete at the end of 2025 and remained on budget and on track for first LNG cargo in the fourth quarter of 2026, while Woodside is still seeking buyers for part of Louisiana LNG. Those are the next markers investors will watch. 7
