Woodside and Santos in Talks to Create $52 Billion Australian Gas Powerhouse
Woodside Energy and Santos are in preliminary talks to create an $52 billion global oil and gas giant, potentially forming the largest liquefied natural gas (LNG) producer in Australia. The deal would combine two of Australia's largest oil and gas producers and comes amid consolidation in the energy sector. However, the talks are confidential and incomplete, and there is no certainty that an agreement will be reached. The potential merger would face scrutiny from Australia's competition watchdog. Both companies are facing pressures of decarbonization and challenges in their current projects.