Woodside Energy’s revenue soared 30% to $6 billion in three months, fueled by soaring LNG prices amid Middle East turmoil—Asia’s buyers, scrambling for stable supply, are turning to Australia’s reliable, nearby exports. While higher prices boost Woodside’s coffers despite lower volumes, some Asian markets are cutting back, even reverting to coal. Yet, analysts see Australia’s strategic positioning as a long-term win. The windfall also reshapes Australia’s tax debate, as government revenue forecasts skyrocket—raising questions about whether the current system captures the true value of these global energy giants.
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