Woodside Petroleum Ltd., Australia’s second-biggest energy producer, may step up its hunt for acquisitions after scrapping a deal to buy a stake in Israel’s Leviathan natural gas project for as much as $2.6 billion.
Japan’s projected increase in natural gas demand after the crisis at a nuclear power plant may help Inpex Corp. win customers and improve returns of its proposed Ichthys project in Australia with Total SA.
Escalating costs to build liquefied natural gas plants on land in Australia, where energy workers earn the highest salaries in the world, are driving developers out to sea in search of billions of dollars in savings.
Woodside Petroleum Ltd. rose in Sydney amid speculation Australia’s second-biggest oil and gas producer is close to resolving how Royal Dutch Shell Plc will dispose of its remaining stake in the company.
Woodside Petroleum Ltd., Australia’s second-biggest oil and gas producer, may pull out of a deal to invest in Israel’s largest natural gas field, freeing up as much as $1 billion to return to investors, Deutsche Bank AG said.