Latest news with #AustralianStockExchange
Epoch Times
30-04-2025
- Business
- Epoch Times
Australian Energy Giant Approves $17.5 Billion LNG Project in Louisiana
Australian energy giant Woodside will push ahead with a $27 billion (US$17.5 billion) liquefied natural gas (LNG) project in Louisiana, United States. Woodside shares rose 1.47 percent on the Australian Stock Exchange (ASX) to 20.66 each on April 29 in reaction to the news. The announcement comes after U.S. President Donald Trump's declaration of a national energy emergency upon taking office, and his promise to Woodside expects the project to produce about 16.5 million tonnes per annum (mtpa) of gas in 2029 and generate $2 billion of cash per year from the 2030s. By the 2030s, Woodside hopes to produce 24 mtpa of gas from the project, contributing to 5 percent of total global LNG supply. 'At full capacity, the foundation project is expected to generate approximately $2 billion of annual net operating cash in the 2030s. It will drive Woodside's next chapter of value creation, giving the company's global portfolio the potential to generate over $8 billion of annual net operating cash in the 2030s,' Woodside said Related Stories 4/28/2025 4/24/2025 Woodside Chief Executive Officer Meg O'Neill described the news as a 'historic moment' for the company. 'Louisiana LNG is a game-changer for Woodside, set to position our company as a global LNG powerhouse and enable us to deliver enduring shareholder returns,' she said. 'This world-class project is a compelling and de-risked investment. It leverages Woodside's proven strengths in project execution, operational excellence, marketing and customer relationships to offer significant cash generation and drive long-term shareholder value.' O'Neill said Woodside had secured quality partners and was now ready to take the final investment decision. 'Adding Louisiana LNG to our established Australian LNG business provides Woodside with a balanced and resilient portfolio, combining long-life, flexible LNG assets with high-return oil assets,' she said. O'Neill pointed out that the project benefits from access to abundant low-cost gas resources in the United States and has an asset lifespan of more than 40 years. 'It also has access to well-established interstate and intrastate gas supply networks. The marketing opportunities Louisiana LNG offers across the Pacific and Atlantic Basins leverages Woodside's proven LNG marketing capabilities and complements our established position in Asia,' she said. This would position Woodside to even better serve global customers and meet growing energy demand. 'This supply can target strong and sustained demand for LNG expected in both Asia and Europe, as those markets pursue energy security and decarbonisation aspirations,' O'Neill said. 'We are pleased with the strong level of interest from potential strategic partners and are advancing discussions targeting further equity sell-downs. 'This will further reduce Woodside's capital and accelerate the value of Louisiana LNG and is consistent with the approach we have taken with our Scarborough Energy Project in Australia.' Woodside Thanks US Government For Support Woodside thanked both the Trump administration and the Louisiana state government for backing the project. 'As the largest single foreign direct investment in Louisiana's history, Louisiana LNG will also be the first greenfield U.S. LNG project to go to final investment decision since July 2023," O'Neill said. 'Louisiana LNG will support approximately 15,000 national jobs during construction. Woodside appreciates the support Louisiana LNG has received from both the U.S. Federal and Louisiana State governments.' Trump Expedites Energy Projects Since coming to office, President Trump has made efforts to expedite the approval process for energy projects, including natural gas liquids. On his first day of office, he declared a national energy emergency to secure U.S. energy supply and instructed agencies to push ahead with projects. 'To facilitate the nation's energy supply, agencies shall identify and use all relevant lawful emergency and other authorities available to them to expedite the completion of all authorized and appropriated infrastructure, energy, environmental, and natural resources projects that are within the identified authority of each of the secretaries to perform or to advance,' the executive order states. In response to the national energy declaration, the U.S. Department of Interior has cut down energy permits from a multi-process to 28 days. This applies to crude oil, natural gas, natural gas liquids, petroleum, coal, uranium, biofuels, and geothermal energy.
Bloomberg
27-04-2025
- Business
- Bloomberg
ASX to Review Listing, Waiver Rules After James Hardie Deal
The Australian Stock Exchange will review requirements for shareholder approvals in mergers and acquisitions, following James Hardie Industries Plc 's A$14 billion ($9 billion) deal in March to take over AZEK Co. In a statement on Sunday, the ASX said Australian institutional investors had voiced concerns about current shareholder approval requirements and that the exchange would update an analysis from 2017.
Yahoo
09-04-2025
- Business
- Yahoo
Super boost for Aussies as China reaches out after Trump's latest tax attack
Retirees could soon breathe a little easier as the Australian Stock Exchange (ASX) and the dollar are tipped to rise following a turbulent week. Donald Trump has announced a 90-day pause on his tariff plans for more than 75 countries. That's all countries except China. Trump stepped up his 104 per cent tariff on the Asian superpower to 125 per cent, prompting the Chinese government to offer Australia to "join hands" in a bid boost global trade. China's ambassador to Australia Xiao Qian said Trump had "weaponised" trade issues after global economies were rocked this week, including the ASX which took a multi-billion dollar plunge. The impacts were felt by everyday Australians concerned as their superannuation balances dropped and the Aussie dollar fell to its lowest level since the pandemic. Aussie dollar at risk of collapse amid China-US trade war as Trump wields dangerous $732 billion power Multi- millionaire's blunt retirement message for Aussies: 'Work until 90' ATO warning for Aussie drivers over common $2,560 deduction as tax time looms: 'Don't miss out A poll of nearly 2,000 Yahoo Finance readers found the volatility caused 72 per cent to worry about their nest eggs. 'A weak compromise will only allow the US to sabotage the international order and rules even more wantonly, dragging the world economy, which has already embarked on the track of a stable recovery, into a quagmire and an abyss,' Xiao told the Sydney Morning Herald. However, the US President's pause has seen a surge in American markets, and investors are predicting similar movements in Australia. The ASX Futures are financial contracts that allow traders and investors to speculate on what the ASX 200 will do when the bell opens at 10am AEST. The number is based on overnight trading from the US and other big markets. The S&P500 lifted 9.52 per cent overnight, the biggest one-day gain since 2008 and third-highest since World War II. The NASDAQ also closed up more than 12 per cent. Investors are predicting the ASX will see a similar rally on Thursday when the market ASX lost tens of billions of dollars on Monday and Wednesday as investors were spooked about how the US tariffs would affect our economy. Opposition leader Peter Dutton even feared Australia would be dragged into a recession as a result. The benchmark ASX 200 closed 135 points, or 1.8 per cent lower on Wednesday at 7,375.00. For comparison, the ASX was at 7,859 on Friday. The Futures suggest the ASX could surge by 490 points, or 6.62 per cent, to 7,895. The Aussie dollar, which had been dipping below 60 US cents this week, is also expected to jump 3.3 per cent to 61.59 US cents. Millions of people will have their superannuation invested in the ASX as well as US markets. When local or international share markets take a tumble, retirement nest eggs can be impacted, particularly for those hoping to leave work and tap their superannuation in the near future. H&R Block tax expert Mark Chapman told Yahoo Finance the turbulent week on the stock market was confronting for those about to retire. "Unless there is a rapid uptick in the stock market, this could mean that many people will have to work longer to afford the kind of retirement they thought they were looking at just a few weeks ago," he said. However, if the Futures are correct and there is a surge on the ASX, those fears could be abated - for now. The US president's reciprocal tariff pause has been applied to dozens of countries for the next three months. Some of the tariffs came into effect on Monday, but many were applied on Wednesday, meaning the U-turn was an 11th-hour reversal. It brings all the affected countries down to 10 per cent as the Trump administration negotiates with each one on future trading agreements. 'People were getting yippy,' Trump said of the pause. 'They all want to make a deal – somebody had to do what we did, and I did a 90-day pause for the people that didn't retaliate, because they told them, 'If you retaliate, we double it'." Unfortunately for Australia, it was only on a 10 per cent reciprocal tariff to begin with, so there won't be much difference. While Trump provided tariff relief for dozens, he hiked the penalty on China even further. 'That's what I did with China, because they did retaliate, so we'll see how it all works out. I think it's going to work out amazing," the President said. As Australia's economy is closely linked with China's, further tariffs could be bad news as items made in China but sold by US companies to Aussie shoppers could become far more expensive. China's trade with China is worth about $325.5 billion, while two-way trade with the United States was worth $98.7 billion in 2023. However, Motley Fool chief investment officer Scott Phillips told Yahoo Finance it could end up meaning cheaper prices for Aussies. "It might be the case that we benefit in the short term from those tariffs," he said. "If China is looking for other markets for its products then Australia becomes an alternative market as people are lowering their prices just to clear the inventory."
