Abu Dhabi’s $19 Billion Offer Drives Push for Top LNG Ranks

Abu Dhabi is boosting its ambitions to build a top liquefied natural gas producer with its biggest energy deal, as the petrostate targets a market it sees as key to its economic growth.

Abu Dhabi National Oil Co.’s unit is leading a group that’s offered $19 billion for Australia’s Santos Ltd., which would give it access to production and export of LNG feeding straight into fast-growing Asian markets. The investment unit — XRG PJSC — would add Santos to a tally of gas and chemicals deals on the US Gulf Coast, Africa, the Middle East and Europe.