Australian oil and gas producer Santos says a blockbuster takeover bid by an Abu Dhabi-led consortium had been destined for failure because the two sides could not agree on necessary domestic natural gas supply commitments for the deal to gain government approval.

The Abu Dhabi National Oil Company (ADNOC) this week abruptly withdrew an offer to buy Adelaide-based Santos for $30 billion, which would have been the largest all-cash takeover deal in Australian history and among the biggest ever in the global energy sector.

After months of negotiations, the deal fell apart just 48 hours before the September 19 deadline for a binding agreement to be reached, leading to a sharp sell-off in Santos shares that wiped more than $2 billion from its market value.

It marks the third time in seve

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