News
XRG-led consortium processing due diligence review
Abu Dhabi, UAE – August 11, 2025
The XRG-led consortium confirms that Santos has extended its exclusivity period with the consortium. Given the scale of the transaction, both parties have mutually agreed to allow additional time for the consortium to complete its due diligence review process and progress a scheme implementation agreement (SIA).
There remains strong alignment between both parties on the strategic rationale for the potential transaction, and the process to date has been constructive and is ongoing.
As previously outlined, the consortium believes the potential transaction represents a compelling opportunity to build on Santos' legacy as a trusted and reliable energy supplier. Together, the consortium partners bring extensive operational expertise, investment capacity and the long-term vision required to develop and scale complex energy projects and low-carbon solutions.
The consortium's ability to invest in, and accelerate, Santos' growth provides the opportunity to unlock additional gas supply, support local employment, and contribute to Australia's domestic and regional energy security.
Reference: Santos announces an exclusivity period extension under the Process Deed with XRG Consortium
There remains strong alignment between both parties on the strategic rationale for the potential transaction, and the process to date has been constructive and is ongoing.
As previously outlined, the consortium believes the potential transaction represents a compelling opportunity to build on Santos' legacy as a trusted and reliable energy supplier. Together, the consortium partners bring extensive operational expertise, investment capacity and the long-term vision required to develop and scale complex energy projects and low-carbon solutions.
The consortium's ability to invest in, and accelerate, Santos' growth provides the opportunity to unlock additional gas supply, support local employment, and contribute to Australia's domestic and regional energy security.
Reference: Santos announces an exclusivity period extension under the Process Deed with XRG Consortium
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