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Energy Business
Kinsey Grant Baker
Kinsey Grant Baker
Energy Central Team
 · Posted in Energy Business

NEWS: Adnoc’s XRG leads $19bn bid to buy Australian gas producer Santos

XRG, the investment arm of Abu Dhabi-based Adnoc, just made a $19 billion move to buy Australia’s Santos, the country’s second-largest gas producer. Behind the bid? Betting on LNG and energy security in a shaky global market. (The National)

  • The deal offers a 28% premium and would give XRG full control of Santos’ gas, LNG, and pipeline assets. 

  • XRG’s been busy scooping up assets in Texas, Mozambique, Turkmenistan, and Germany. It’s all part of its larger strategy to hit 20-25 MTPA of gas and LNG capacity by 2035.

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