Woodside buys Tellurian to position itself as ‘global LNG powerhouse’

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Financial Times 12h ago

Woodside buys Tellurian to position itself as ‘global LNG powerhouse’ - Financial Times

Quick Summary:

It held talks with local rival Santos this year for a $52bn deal that would have created a “national champion”, but it fell apart after the two companies failed to agree terms.

But the project has faced repeated setbacks, losing key buyers and struggling to raise funds despite a surge in demand for US gas since Russia’s invasion of Ukraine.

Woodside, which traces its roots to the 1950s and doubled in size in 2022 when it merged with BHP’s oil and gas division, has been on the hunt for acquisitions to bolster its growth prospects.