Woodside's Burrup Hub

• Woodside plans to set off a carbon bomb: The Burrup Hub project is led by Woodside Energy (ASX:WDS), to build new offshore gas fields and onshore fracking. It has the potential to be the most polluting project ever to be developed in Australia, delivering some of the world’s dirtiest Liquified Natural Gas (LNG) for up to 50 years. With estimated total emissions of over 6 billion tonnes of carbon pollution across its lifetime, the proposal has profound implications for the global climate across generations.[1]  
• Tradition Owner concerns: Traditional Owners criticised Woodside for threatening Australia's most extensive collection of Aboriginal rock art that is up to 50,000 years old and expanding the Burrup Hub without their consent.[2]  
• Methane pollution: Methane is a potent greenhouse gas, 80 times more potent than carbon dioxide over a 20 year period.[3] Methane escapes during the gas supply chain in many ways, including when gas seams are opened or leak from pipelines.[4] A report by IEEFA found that Australian gas companies were underestimating their methane emissions by 92%. These LNG plants will have to double their emissions reductions by 2030 to comply with the Australian Government’s Safeguard Mechanism’s caps on emissions.[5] 
• Investors aren’t happy: At Woodside’s 2024 Annual General Meeting, nearly 60% of shareholders voted against the company’s Climate Transition Action plan. Investors were not convinced Woodside could align its plans to expand oil and gas projects with international climate goals. This was the least-supported climate plan voted on by company shareholders ever.[6]

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