ADNOC’s Australia avoidance
The Middle East NOC’s decision to exit Santos signals changing rules for Australian gas investors
ADNOC’s withdrawal from its bid for Santos has demonstrated how commercial weaknesses and political pressures are converging in Australia’s East Coast gas market. Santos’ GLNG project has repeatedly drawn more gas from the domestic market than it contributes over the years, making it the only Queensland LNG venture to run at a net deficit consistently. That record matters because Canberra—after a decade of warnings from the Australian Energy Market Operator, the Australian Competition and Consumer Commission (ACCC) and industry analysts about tightening East Coast gas supply—is striving to demonstrate that it can guarantee reliable domestic supply. In that context, Santos faces tighter const
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
