MELBOURNE: Australia's Woodside Petroleum Ltd plans to invest $5 billion by 2030 mainly in hydrogen, in line with a global push for cleaner energy, armed with cash flow from its planned merger with BHP Group's petroleum arm. Woodside Chief Executive Meg O'Neill outlined her energy transition plan on Wednesday, which she said was based on the assumption that its $28 billion merger with BHP's petroleum arm to create a global top 10 oil and gas company goes ahead. Investing in hydrogen and carbon capture and storage are the best ways for the enlarged Woodside to use its oil and liquefied natural gas (LNG) skills and maintain returns to shareholders in the energy transition, the CEO said. Woodside will target an internal rate of return of more than 10% and a payback within 10 years on new energy projects - a lower hurdle than for its riskier oil and gas projects.