New Energy

Customer-led solutions for the energy transition

Innovating and investing in the global energy transition

The energy transition continues to evolve. Today, our portfolio includes a diverse range of oil and gas assets and lower-carbon projects.¹

We will pursue, assess and progress lower-carbon opportunities, that support customer decarbonisation, where they are market-led, value-accretive and aligned with strategy.¹

Markets for emerging lower-carbon opportunities, including hydrogen, ammonia and carbon capture and storage, have developed more slowly than anticipated and remain dependent on policy support, customer demand and broader value-chain development. Woodside believes investment in these opportunities is best guided by customer demand, commercial returns, favourable policy settings and disciplined capital allocation.

Lower-carbon hydrogen produced from natural gas reforming with CCS can deliver more cost-effective fuels than electrolytic hydrogen, while markets for hydrogen mature. This approach focuses on carbon intensity rather than production method.

What do we mean by new energy products and lower-carbon services?

Woodside uses the term new energy to describe energy products and technologies, such as hydrogen or ammonia, that are emerging in scale, but which are anticipated to grow during the energy transition due to having lower greenhouse gas emissions at the point of use than conventional fossil fuels.

The term lower-carbon services is used by Woodside to describe technologies, such as CCS or carbon offsets that could be used by customers to reduce their net greenhouse gas emissions.

Our new energy products and lower-carbon services

Hydrogen is the simplest element in the universe. It’s abundant, versatile, and can act as an energy carrier, storing and transporting energy in a usable form from one place to another. 

Hydrogen has been recognised as a key option to realise the net zero greenhouse gas emissions commitments that governments have announced in recent years.

Lower-carbon hydrogen can be produced through a process of natural gas reforming combined with measures to reduce carbon emissions. Natural gas reforming uses thermal energy in a chemical reaction to generate hydrogen from natural gas. Carbon dioxide (CO₂) is also produced as part of the natural gas reforming process, however technologies such as Carbon Capture and Storage (CCS), where the CO₂ is captured and transported underground for safe and permanent storage, can assist in managing this.

Ammonia can be used as a carrier for hydrogen, either to be used directly (as feedstock for chemicals or as a fuel for power generation and maritime transportation) or to be reconverted to hydrogen. Ammonia may be produced from hydrogen through a process called the Haber-Bosch process.

Both lower-carbon hydrogen and ammonia offer the potential for decarbonising parts of the energy system where other measures such as direct electrification are more difficult or expensive, including sections of heavy industry and long-distance transport.

We plan to progress a large-scale solar photovoltaic farm, complemented by a battery energy storage system to deliver renewable energy to Pluto LNG, subject to securing an acceptable transmission solution and associated commercial arrangements.

Some technologies can abate emissions by capturing greenhouse gases and durably storing them out of the atmosphere.

Woodside, as a participant in various joint ventures, is involved in five Australian greenhouse gas assessment permits and has progressed three non-binding memoranda of understanding to enable studies of a potential CCS value chain between Japan and Australia. In 2025, Woodside also signed a storage study agreement with Petros to evaluate the technical and commercial aspects of offshore carbon storage in an underground site in Central Luconia, Sarawak.

Carbon Capture and Utilisation (CCU) at Woodside involves pathways that valorise carbon dioxide and methane, and integrate enabling technologies and product streams, such as renewables and energy storage systems, to convert greenhouse gas emissions into valuable products or services, while also mitigating those emissions.

Since 2019, Woodside has been exploring options to evaluate, validate and apply CCU concepts using licensed technologies in a proprietary systems-level architecture.

CCU is a growing field with intellectual property held by specialised technology companies, many of which are in the startup or scale-up stages. Woodside is seeking to assess and utilise CCU technologies to diversify methods for reducing GHG emissions, through either direct use or abatement.

COLLABORATION

Collaborating to develop demand for new sources of energy

We expect the development of new energy markets to be similar to the development of the LNG industry many years ago, such as in the need for government support and opportunities for collaboration. Like then, we are building relationships across the value chain and aligning solutions to customers with options to match the scale and pace of the energy transition.

We have been investing in customer relationships with our traditional LNG buyers and we are extending that to new and emerging customers in new energy.