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Woodside says investors back $1.4b US buy, but some have questions

Angela Macdonald-Smith

Woodside Energy chief executive Meg O’Neill says investors have not questioned the strategy behind the $1.35 billion acquisition of a massive US LNG development, despite most shareholders rejecting the oil and gas major’s climate plan three months ago.

Speaking a day after Woodside announced a deal to buy Houston-based Tellurian, which has driven a slump in the oil and gas producer’s share price, Ms O’Neill said the feedback from investors was focused on technical issues – not the justification for the move.

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Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com

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    Original URL: https://www.afr.com/companies/energy/woodside-investors-back-us-deal-strategy-ceo-20240722-p5jvns