Santos and Woodside Energy on Thusrday told to media that they had eyes over a merger that would completely consolidate Australia LNG sector into one national company if merged.

Santos and Woodside Energy on Thusrday told to media that they had eyes over a merger that would completely consolidate Australia LNG sector into one national company if merged. According to survey that companies Japanese energy companies, ConocoPhilips,Saudi Aramco had all invested in Australia LNG sector over the course of the year.

The talks come after two mega US deals were hang in October with Exxon Mobil agreeing to purchase Pioneer for including debt and Chevron striking a $60bn takeover of Hess also including debt.

Woodside is a worlwide company have asset in Canada, Algeria and US. Company shares have down 20 percent due to uncertainty and hault to development projects in Western Australia.

Santos and Woodside have not reach transformative deals in recent past .Santos completed A$21bn deal for rival Oil Search in recent past but mulitbillion dollar offshore drilling project was not completed by a court challenge from the people of the remote Tiwi islands whose water it will run through.

Wood Mackenzie reveal that previous month $7bn of deals had been hang for Australian LNG assets in the first 10 months of 2023 making it one of the major destinations for global investment in the business sector.

Santos have faced investor pressure in latest months to consider a break up of the company to separate its Gas business from LNG assets.

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »
[hfcm id="1"]
Verified by MonsterInsights