Santos could sell PNG gas stake to thwart rival bid: analysts

Original article by Perry Williams
The Australian – Page: 17 : 4-Aug-21

Santos will have a 42.5 per cent stake in the Papua New Guinea LNG project if its proposed merger with Oil Search proceeds. Tom Allen of UBS has flagged the possibility that Santos could reduce its current stake of 13.5 per cent in the project by 10 per cent; he notes that this would align Santos with its joint venture partners and reduce the risk of that a counterbid for Oil Search will emerge. PNG LNG partners ExxonMobil and Total have been touted as potential bidders for Oil Search.

CORPORATES
SANTOS LIMITED – ASX STO, OIL SEARCH LIMITED – ASX OSH, UBS HOLDINGS PTY LTD, EXXONMOBIL CORPORATION, TOTALENERGIES SE

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