The Australian carries an exclusive interview with Woodside CEO, Peter Coleman today that should give everyone a shiver:
WOODSIDE Petroleum is eyeing a “number of opportunities” in the US as it looks to tap the shale gas boom there, exploiting the company’s expertise in designing and operating gas processing facilities.
“We know North America really well…A number of my leadership team have spent a considerable amount of time working in North America…We do have a competitive advantage in the downstream part of it…Will the US fundamentally change the world of LNG? No, it won’t. Could it be a significant contributor? Yes, it could. Is there opportunity there for Woodside? Absolutely. And we just have to navigate our way through.”
No doubt this is, in part, Woodside’s contribution to the recent oil and gas PR campaign to pressure government into helping with costs, not to mention the ongoing stoush over FLNG in WA. But the threat is not idle. US LNG is the real deal for the next decade. And Woodside might just as easily be placating shareholder anxiety over that growing threat to its business. If you can’t beat ‘me, join ’em!
