Hi @Remorhaz I watched the ABC report also. I think the so called ‘gas crisis’ is the result of the perfect storm of events that have driven gas demand, and consequently sky high gas prices. Here are some of the contributors to the perfect storm:

• Coal is the dominant source of Australia’s electricity generation, accounting for about two-thirds.
• The role of coal in electricity generation has been falling amid a wave of new zero-emission generation and environmental advocacy.
• Several ageing coal fired power stations have been shut down for maintenance leaving 25% of the country’s capacity offline
• the Victorian state government put a moratorium on gas exploration and production, and now we don’t have enough gas. 
• the Australian Energy Market Operator has warned of “potential ongoing implications for reliability” in the National Electricity Market this winter because of the recent “challenges” with the availability of fuel.
• Australian wholesale electricity prices have surged because of the lack of investment in generation.
• the Ukraine war has resulted in oil and gas shortages and price hikes
• A sudden cold snap in eastern Australia spiking the demand for power
• we find out the Snowy 2 hydro battery project is 19 months behind schedule and will not level out renewable energy cycles until 2027.

I think the perfect storm will pass in months, not years. When it passes, I think the long-term low carbon emission theme will return to haunt Woodside and other fossil fuel producers.

While the shortage of fossil fuels has some time to run, I’ve taken this as an opportunity to offload Woodside IRL at 12 month highs. I think back to March 2020…nobody wanted Woodside for just over $15.

Q2 2021 Report
Performance highlights:

• Achieved sales revenue of $1,285 million, up 15% from Q1 2021
• Delivered production of 22.7 MMboe, down 4% from Q1 2021
• Delivered sales volume of 28.1 MMboe, up 9% from Q1 2021.

Executing a clear plan:

• Launched sell-down processes for Scarborough and Pluto Train 2, timed to align with the targeted final investment decision (FID) in H2 2021.
• Commenced the drilling campaign for Sangomar Field Development Phase 1 in July 2021
• Completed acquisition of FAR’s interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture in July 2021 and launched a sell-down process
• Executed three sale and purchase agreements (SPA) for the supply of domestic LNG from the Pluto LNG truck loading facility
• Signed a heads of agreement (HOA) with IHI Corporation and Marubeni Corporation to investigate the production and export of green ammonia from renewable hydroelectric power in Tasmania.