Abu Dhabi's Huge Energy Deal Boosts Ambitions to Shape Gas Giant
Abu Dhabi is boosting its ambitions to build a top liquefied natural gas producer with its biggest energy deal, as the petrostate targets a market it sees as key to its economic growth.
The $19 billion offer for Australia's Santos Ltd. by the investment unit of government-owned Abu Dhabi National Oil Co. would give access to production and export of LNG feeding straight into fast-growing Asian markets. The unit — XRG PJSC — would add Santos to a tally of gas and chemicals deals on the US Gulf Coast, Africa, the Middle East and Europe.
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