Woodside Energy’s CEO and Managing Director, Meg O’Neill, recently delivered a compelling keynote address at the Australian Institute of Company Directors’ annual awards lunch in Perth, focusing on securing Western Australia’s energy future.

O’Neill began by reflecting on Woodside’s 70-year history and the transformative impact of the North West Shelf Project, which began supplying gas to Western Australia 40 years ago.

She highlighted how this project, once the largest private-sector construction endeavour in Australian history, has significantly contributed to the state’s economic growth and energy diversification.

The CEO emphasised that gas currently fuels approximately 60 per cent of Western Australia’s electricity generation, compared to Victoria’s 57 per cent reliance on coal.

O’Neill stressed the importance of gas in the transition to cleaner energy, noting its lower emissions profile compared to coal and its potential to support renewable energy grids.

O’Neill discussed Woodside’s ongoing Scarborough Energy Project, which aims to address potential gas supply shortfalls predicted by the Australian Energy Market Operator from 2030 onwards.

She also touched on Woodside’s recent acquisition of the OCI Clean Ammonia Project in Texas, demonstrating the company’s commitment to lower-carbon energy solutions.

Addressing climate change concerns, O’Neill outlined Woodside’s approach to the energy transition:

1. Utilising science and data-driven decision-making
2. Planning for various climate scenarios
3. Implementing a transition case methodology for investment opportunities
4. Setting Scope 3 targets for new energy investments and carbon abatement

O’Neill concluded by emphasising the need for collaboration among governments, companies, and individuals to secure a lower-carbon energy future for Western Australia.

She called for government leadership in energy reforms, corporate action on climate change, and individual commitment to lower-emission lifestyles.

As Western Australia faces the dual challenges of maintaining energy security and addressing climate change, Woodside’s vision, as presented by O’Neill, aims to balance these priorities while driving economic growth and sustainability in the region.