Woodside CEO Says Markets Underestimate Middle East LNG Supply Loss

The chief executive of Australia's largest LNG exporter stated that global gas markets are underestimating the impact of reduced LNG supply from the Middle East. Liz Westcott, chief executive officer at Woodside Energy, made the comments in an interview with Bloomberg Television on the sidelines of the Australian Energy Producers Conference.

"I don't think markets and consumers and society are yet fully appreciating it, and there's a belief that things will return to normal at some soon point," Westcott said. She added that customers are now focused on securing short-term supply because of volumes held back from the Middle East.

"Customers are looking for us to honor our contracts, and if there is any additional volumes, to keep them in mind," the executive said. Woodside is also seeking firm long-term commitments from buyers amid the supply constraints.