New South Wales Premier Chris Minns has stated that the progression of Santos’ projects is of greater importance to him than the company’s ownership structure. This declaration comes after Abu Dhabi National Oil Co (ADNOC) withdrew its $36 billion takeover bid for the Australian oil and gas producer on Wednesday night. Santos is an Australian energy company focused on the exploration, development, production, and marketing of natural gas and crude oil. The company aims to provide reliable and affordable energy solutions.
During an interview on Sky News, Premier Minns addressed concerns about stability in the gas market following the failed takeover. When asked if the status quo was better or worse, Minns responded, “I don’t know.” However, he emphasised the critical role of Santos’ Narrabri project in meeting the state’s energy demands.
Minns highlighted the significance of the $3.6 billion Narrabri project, stating, “We want Santos to go ahead with their plans in Narrabri. Narrabri alone would account for half of the east coast energy market’s gas needs. It’s hugely important in terms of the energy transition in our state.” The Narrabri project, located in north-western NSW, is poised to become a major supplier in the region.
The Premier’s firm stance underscores the New South Wales government’s commitment to securing gas supplies and advancing its energy transition plans, regardless of the challenges posed by fluctuating ownership scenarios.
