Breaking News: Anadarko Petroleum secures 60 pct of investment for gas project in Mozambique

Anadarko_drilling_mud_leaks_article_story_Gal_clearing_agent_mozambique_Pemba_Palma_offshore offshore-platform

(2015-07-15) US group Anadarko Petroleum has secured 60 percent of the investment required for a liquefied natural gas (LNG) project in Cabo Delgado province in northern Mozambique, the group said in a statement issued Tuesday in Maputo.

The group also reported the status of the project to build a liquefied natural gas plant in a statement that also reported that the Mozambican President Filipe Nyusi, received the company’s chairman, Al Walker, in a meeting held Monday in Maputo .

The Anadarko Petroleum group also noted it would sign contracts for the purchase and long-term sale of 8 million tons of gas/year after signing non-binding agreements for that amount.

In May, the US oil company said it had selected the CCS JV consortium, established by US company Chicago Bridge & Iron, Japan’s Chiyoda Corporation and Saipem, a subsidiary of Italy’s ENI, for construction of a liquefied natural gas terminal in Mozambique.

The Mozambican government expects that the project for liquefaction of the gas extracted in the Rovuma basin in northern Mozambique, will require investments of over US$22 billion and should begin in 2019, but the consortium involved in the project expects operation to begin after 2020.

Source: Macauhub

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