Anadarko Petroleum reaches significant liquefied natural gas milestone in Mozambique

Anadarko Petroleum Corporation has announced that it has finalized two agreements with the Government of Mozambique – together known as the "marine concessions" – which would allow it to design, build and operate the marine facilities for its LNG project in northern Mozambique.

This follows the publication of the Mozambican Government Decrees approving those agreements.

"This is a key milestone on the path to a final investment decision (FID) for our initial two-train LNG project," said Mitch Ingram, Anadarko Executive Vice President, Global LNG.

"It marks the completion of the core components of the Legal and Contractual Framework with the Government. We will now look ahead with our plans to begin resettlement, which will enable the construction of the LNG plant. In addition, we continue to make good progress with our efforts to secure long-term LNG Sales and Purchase Agreements (SPAs) with premier buyers, and we will intensify our work to put in place the necessary financing for the project. We expect to take FID once the SPAs and financing are in place."

Anadarko is developing Mozambique's first onshore LNG plant consisting of two initial LNG trains with a total capacity of 12 million tonnes per annum (MTPA) to support the Golfinho/Atum field located entirely within Offshore Area 1.

As of year-end 2016, the company had approximately 1.72 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies.