Woodside: Global Gas Demand to Surge 50% by 2030

SEATTLE (Oil Monster): Global gas demand is expected to increase by over 50% between now and 2030, according to Woodside Energy CEO Meg O'Neill. The primary cause of the anticipated increase in demand is the growing significance of natural gas in the global energy transition.

The top natural gas producer in Australia claims that many countries around the world have been looking for "affordable reliable energy." As countries work to achieve net zero emissions, natural gas will continue to be a component of the mix. Long-term faith in natural gas as a fuel source is indicated by the significant number of LNG supply contracts that go into the 2040s and beyond.

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The suppliers must react swiftly to the growing global demand for energy. Accordingly, during the past few years, Woodside has made significant investments in a number of cost-effective projects. The company's $1.2 billion purchase of a Louisiana LNG project last year has aided in expanding its footprint in the Atlantic basin, which complements its position in Australia.

The business has been funding regional initiatives at the same time. For example, according to Woodside Energy, the Scarborough project in Australia anticipates receiving its first LNG in the second half of 2026.