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Santos (ASX:STO) up 15% on GLNG deal chatter

Santos (ASX:STO) up 15% on GLNG deal chatter

Investors have driven shares in energy giant Santos Ltd (ASX:STO) up over 15% in the last week as several media organisations speculated about potential billion dollar deals to sell part of its Gladstone coal-seam LNG project.

Santos Ltd has confirmed that it is in “discussions with a number of parties in relation to potential LNG sales, equity in the project and collaboration between projects” but also warned investors that there was no guarantee that those discussions would result in any agreement.

The company's shares also spiked sharply back in March on rumours that Santos was a potential takeover target for Woodside Petroleum.

The deal would also put paid to suggestions that the Federal Government’s proposed RSPT was preventing investment in the sector.

For most of the last 12 months Santos has underperformed against the ASX200. But shares in Santos closed the week up $1.24 to $14.00.

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Tags Santos LtdEnergy DevelopmentsASX:STOGLNG

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