LIN · Earnings call · 2026Q3T · Full report

Woodside Project Start-Up

LINDE PLC · 2026-10-29 · Importance 40 · Surprise 42 · In source text

The Woodside project’s air separation unit began supplying nitrogen in the third quarter, with progress continuing through year-end and into next year. Linde was temporarily supplying hydrogen through its pipeline network while the project’s two ATR trains were being prepared for staggered start-ups, expected to complete in the first half of next year. Carbon capture and sequestration, being completed by ExxonMobil, was the remaining facility component after the ATR start-ups. Plant utilization will ramp gradually, with management expecting full utilization around 2028.

Key facts

• LINDE PLC expected the two Woodside ATR trains to start up on a staggered basis and be completed in the first half of the following year; the carbon capture and sequestration component, being worked on by ExxonMobil, would remain afterward.
• LINDE PLC expected the Woodside project’s impact to begin in the second half of 2027, with plant capacity utilization ramping to 100% probably sometime in 2028.
• LINDE PLC expected Woodside’s air separation unit and nitrogen supplies to start in Q3 2026 and continue progressing through the rest of 2026 and into 2027.
• LINDE PLC was temporarily supplying Woodside with hydrogen from its pipeline network so Woodside could continue manufacturing ammonia.

Impact estimates