Extract AUST Business today: WOODSIDE TALKS UP LNG APPEAL IN...

Extract AUST Business today:
WOODSIDE TALKS UP LNG APPEAL IN SANTOS DEAL

Colin Packham
Woodside Energy wants to exploit demand for LNG amid a transition away from coal, and talks with Santos over an $80bn merger meet that ambition, chief executive Meg O’Neill has declared.
Woodside and Santos in December confirmed they were in preliminary talks over a tie-up, a deal that would create a global giant.
As Woodside reported record annual production figures on Wednesday, Ms O’Neill said the Santos talks were continuing, though she declined to speculate on when they would conclude.
Ms O’Neill did, however, offer some clues to the motivations behind a deal.
“I do think it’s worth going back to our strategy, which is to thrive through the energy transition, and we are looking at a range of both organic and inorganic ways to grow the business consistent with that strategy,” Ms O’Neill told The Australian.
“We do have a focus on LNG. We have capabilities in deep water and we’re also working on our new energy options. We’re looking at a variety of organic and inorganic options and all three of those thematics.”
Woodside said production over the year totalled 187.2 million barrels of oil equivalent, at the top end of guidance issued by the company. Quarterly production totalled 48.1 million BOE, with revenues during the three months hitting $3.35bn, up 3 per cent from the previous three months, due to higher realised prices.
Ms O’Neill said the result showed why Woodside had pursued its $63bn merger with BHP Petroleum, and the company’s outlook was bolstered by rapid development of new projects. “The growth projects are cranking up. Sangomar is headed for first oil mid this year, Scarborough is making great headway. At Pluto train 2, the activity on site is going to ramp up rapidly this year. And excitingly, the Trion project in Mexico is going to start moving into the construction phase. So feel really good about how we’re positioned,” Ms O’Neill said….…..
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