Woodside plans to invest $5B in new energy markets by 2030

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• At its investor day, Woodside Petroleum (OTCPK:WOPEF, OTCPK:WOPEY) outlined plans to spend US$5B by 2030 in new energy markets and renewables that are emerging as countries seek to reduce their carbon emissions.
• Woodside said liquefied natural gas will remain an important part of the energy mix for decades to come, both as a lower-carbon source of fuel for coal-dependent countries and as convenient firming capacity for renewables, but highlighted the importance of new energy in supporting decarbonization goals.
• "We expect that in the mid-2020s the transition to new energy will be underway, including the start-up of the first of our own projects," Woodside CEO Meg O'Neill said.
• Woodside already has announced four new energy projects in recent months, including a A$1B carbon neutral hydrogen and ammonia production facility in Western Australia.
• This week, Woodside said it secured a lease and option to purchase vacant land in Oklahoma for future development of a modular hydrogen facility.
• O'Neill also said she is confident that Woodside shareholders will approve the planned US$28B merger with BHP's petroleum business.