Saudi, UAE interest puts $25b Santos in play

Santos is closer to realising the value of its overlooked strategic LNG assets after renewed takeover speculation linked to Middle Eastern money underlined the oil and gas producer’s status as a potential target in the wave of global energy consolidation.

As Australian superannuation funds distance themselves from fossil fuel investments, sovereign-backed Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) emerged as possible suitors for the $25 billion Santos, which failed to strike a merger with Woodside Energy earlier this year.