SYDNEY, March 20, 2026, 08:38 AEDT
- Woodside ended Thursday’s session at A$33.70, a jump of A$2.26, or 7.2%.
- Brent crude ended the session at $108.65, down from an earlier high of $119.13. European gas prices spiked, with oil and gas sites in the Middle East coming under fire from strikes.
- Woodside’s chief executive Liz Westcott is putting Louisiana LNG front and center, calling it a “key priority” heading into what she’s labeled a “big year of delivery.” Reuters
Woodside Energy finished Thursday up 7.2% at A$33.70, with traders snapping up energy names after oil and gas prices jumped. Investors also responded to the company’s new CEO zeroing in on its LNG project lineup.
The timing’s crucial: Woodside faces a packed agenda this year. Westcott, who just got the nod as CEO, needs to push Scarborough to first cargo, offload 20% of Louisiana LNG, move Trion forward in the Gulf of Mexico, and lock down both terms and sign-offs for Browse—all while bracing for lower output in 2026.
It was a volatile session. Brent closed at $108.65 a barrel, after earlier spiking to $119.13. European gas prices surged as much as 35%. In Qatar, QatarEnergy’s CEO confirmed that the damage at Ras Laffan knocked out 17% of the country’s LNG export capacity, and repairs could take up to five years. LNG refers to liquefied natural gas—gas chilled into a liquid for easier shipping by sea.
Westcott called Louisiana LNG a “key priority” in the coming months, saying Woodside is actively seeking additional investors for the U.S. venture. Speaking with reporters, she added that 2026 shapes up to be a “big year of delivery”—with Scarborough approaching its first cargo and Trion still aiming for a 2028 launch. Reuters
Analysts didn’t see her appointment as a shakeup. RBC’s Gordon Ramsay described Westcott as a “low-risk appointment”, and ETF Shares CIO David Tuckwell called her a “safe pair of hands”. Woodside, for its part, expects production to fall anywhere from 7% to 14% this year, citing aging infrastructure and maintenance delays, with Scarborough on track to deliver its first LNG cargo in the fourth quarter. Reuters
Woodside on Thursday announced Mark Cutifani, the ex-Anglo American boss, will join as an independent non-executive director—another shakeup in the boardroom. Chair Richard Goyder said bringing in Cutifani should tighten the company’s grip on oversight of big, capital-heavy projects. The move reflects investor focus on how well management handles spending and execution.
The reaction wasn’t confined to Australia. Shares of U.S. LNG names Cheniere Energy and Venture Global shot up, boosted by the fallout from the Qatar incident—underscoring the rush into stocks connected with seaborne gas supply.
But these trades can flip quickly. After news out of Washington about potential sanction relief for Iranian oil and talk of tapping the U.S. emergency reserves, oil settled far below Thursday’s peak. Kevin Morrison at the Institute for Energy Economics and Financial Analysis pointed out that Westcott faces his toughest scrutiny on Louisiana LNG, where cost pressures still loom over the venture. As for Browse, it’s still waiting on commercial deals and environmental signoff.
By the end of 2025, Scarborough had reached 94% completion, staying within budget and heading toward its initial LNG cargo in the fourth quarter of 2026. Woodside, for its part, continues to look for buyers for a slice of its Louisiana LNG. Investors are waiting for these milestones.
