Australia’s biggest LNG producer eyes more Mexico deals

Australia’s largest liquified natural gas (LNG) producer Woodside Energy Group is looking to strike more deals in Mexico, after reporting its highestever profit.

Woodside’s underlying earnings more than tripled to $5.2bn (£4.3bn) in 2022. Its output also jumped over 70pc after buying the oil and gas unit of mining giant BHP, which increased Woodside’s presence in Mexico.

It is the latest global oil and gas producer to report bumper profits amid soaring energy prices, joining BP, Shell and Australia’s Santos.

Woodside is now looking to boost its oil investments to meet demand in the medium term, while investing in additional liquified natural gas projects to guarantee long-term supply.