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Anadarko Announces Mozambique LNG Agreement with CNOOC

Source: www.gulfoilandgas.com 2/1/2019, Location: Africa

Anadarko Petroleum Corporation has announced Mozambique LNG1 Company Pte. Ltd., the jointly owned sales entity of the Mozambique Area 1 co-venturers, has signed a Sale and Purchase Agreement (SPA) with CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. (CNOOC). The SPA is for 1.5 million tonnes per annum (MTPA) for a term of 13 years.

"We are pleased to announce this SPA with CNOOC, an important global energy player in one of the biggest and fastest growing LNG markets in the world," said Mitch Ingram, Anadarko Executive Vice President, International, Deepwater & Exploration. "This deal gives China's largest LNG importer access to Mozambique LNG's world-class gas resources, which are strategically located off the East Coast of Africa, and will provide China with a clean source of energy for years to come.

"Mozambique LNG is extremely pleased to have CNOOC onboard as one of our foundation customers," added Ingram. "This agreement adds to our growing list of customers in the Asia-Pacific region, demonstrating the excellent progress we are making toward our stated goal of taking a final investment decision during the first half of this year. We expect to announce further SPAs in the near future."

The Anadarko-operated Mozambique LNG project will be Mozambique's first onshore LNG development, initially consisting of two LNG trains with total nameplate capacity of 12.88 MTPA to support the development of the Golfinho/Atum fields located entirely within Offshore Area 1.

Anadarko Moçambique Area 1, Lda, a wholly owned subsidiary of Anadarko Petroleum Corporation, operates Offshore Area 1 with a 26.5% working interest. Co-venturers include ENH Rovuma Area Um, S.A. (15%), Mitsui E&P Mozambique Area1 Ltd. (20%), ONGC Videsh Ltd. (10%), Beas Rovuma Energy Mozambique Limited (10%), BPRL Ventures Mozambique B.V. (10%), and PTTEP Mozambique Area 1 Limited (8.5%).

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