Woodside Energy confirmed it is not in discussions with Exxon Mobil after internal reviews evaluated Woodside among potential LNG acquisition targets. The Perth-based producer recently exercised pre-emptive rights to acquire a 10.67% stake in the Browse Joint Venture, reinforcing its long-term LNG growth strategy.
Exxon Mobil conducted internal assessments of several liquefied natural gas producers, identifying Woodside Energy among potential targets to expand its global LNG portfolio and strengthen exposure to Asian demand centers.
Woodside Energy issued a clear statement confirming it is not aware of any proposal from Exxon Mobil and is not engaged in discussions regarding a potential transaction, while affirming its continuous disclosure commitments.
Prior to the denial, Woodside exercised its pre-emptive rights to purchase PetroChina’s 10.67% stake in the Browse Joint Venture, boosting its interest in one of Australia’s largest undeveloped gas resources and supporting its LNG expansion plan.
Analysts note that acquiring Woodside would provide Exxon Mobil with a significant LNG platform across Australia, the U.S. Gulf Coast and global marketing operations, but the lack of a formal approach suggests discussions remain exploratory.
