Australia’s Woodside Sees Higher LNG Prices Boosting Results

Australia’s Woodside Energy Group Ltd. said it expects stronger prices for liquefied natural gas to boost its earnings in coming quarters due to time lags in its supply contracts.

The company’s average realized price rose 11% in the first three months of this year from the fourth quarter, according to Woodside’s quarterly production report. Meanwhile, international oil benchmark Brent and European gas jumped more than 70% in the period, as the Iran war constricted supply from producers in the Persian Gulf.