According to individuals familiar with the matter, Exxon Mobil is examining potential acquisition targets, including Australia's Woodside Energy Group. The American energy giant is considering moves to deepen its presence in the liquefied natural gas sector and within Asian markets.
These sources, who requested anonymity as they were not authorized to speak publicly, indicated that preliminary internal discussions have been taking place at Exxon Mobil. They noted that Woodside Energy is one of several acquisition targets currently under evaluation by the company.
Woodside Energy's American depositary receipts surged as much as 14% in New York trading on Friday. The company's market capitalization, as of the close in Sydney, is approximately A$59 billion (US$42 billion).
It was emphasized that the discussions are at a very early stage, and there is no guarantee that a deal will ultimately be reached. Representatives for both Exxon Mobil and Woodside declined to comment on the matter.
Woodside is Australia's largest exporter of liquefied natural gas. The company is currently developing a project on the U.S. Gulf Coast, which is expected to commence operations in 2029. It also holds long-term sales agreements with key Asian buyers, including South Korea and Japan. This combination of assets makes it an attractive target for any company seeking to establish a stronger foothold in the global LNG market.
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