Worley, a major Australian engineering and construction firm, identifies gas and liquefied natural gas (LNG) as a priority growth market, with gas remaining the anchor of the global energy system. The company estimates near-term global capital expenditure on gas and LNG at $230 billion, excluding Russia and China. CEO Chris Ashton emphasized gas's central role in energy security and the transition, supporting investment across the entire value chain, from upstream and processing to LNG liquefaction and regasification infrastructure. Worley already works with over 15 energy majors and has a history with 40% of the world's floating storage and regasification units.

Key Projects and Partnerships

Worley is currently the major contractor for Venture Global's CP2 project phase two in the US and has been provisionally named as the main contractor for Glenfarne's Alaska LNG phase one project. Another high-profile contract includes the front-end engineering and design of Chevron's Aphrodite gas project in deepwater offshore Cyprus. Additionally, Worley recently announced an agreement with Baker Hughes to jointly pursue LNG opportunities, leveraging existing scale, momentum, and room for growth.

Geopolitical Context and Future Opportunities

Ross McPherson, Worley's president for the Americas, highlighted that recent challenges in the Middle East and geopolitical tensions have reinforced the need for resilient gas supplies globally. The company has the right teams and places to execute on these opportunities, and partnerships like the one with Baker Hughes will provide greater global access and open up opportunities from concept through to commissioning. Near-term opportunities also include the restart, rebuild, and debottlenecking of upstream gas and LNG assets.