LNG

Australian LNG operator Santos was assigned and investment-grade credit rating from US agency Moody’s Investors Service after the final shareholder and court approvals for the US$6.25 billion merger of Papua New Guinea-based energy company Oil Search and Adelaide-based Santos to create a major Asia-Pacific energy player.

Oil Search, the oil and gas company with LNG shareholdings in Papua New Guinea and the subject of a bid by Australia’s Santos, reported a jump in second-quarter operating revenues and lower debts.