Breaking News: Anadarko’s partner Mitsui delays final decision on Mozambique LNG project to end-March

Japan's Mitsui & Co Ltd

(2015-11-06) Japan’s Mitsui & Co Ltd will make a final investment decision (FID) on a liquefied natural gas (LNG) project off the coast of Mozambique by the end of March, its chief financial officer, Keigo Matsubara, said on Friday.

The FID was initially expected by the end of this year.

The negotiations with the local government on various conditions are taking time, Matsubara said.

Rovuma Area-1 Offshore Mozambique Block (Block Area 1) is located along the coasts of northern Mozambique and southern Tanzania in the Indian Ocean. It has a total area of more than 10,000 square kilometres in water depths ranging from 900 metres to 1,600 metres and about 30-60 kms from shore.

Woodlands, Texas-based energy-exploration company Anadarko is the operator of the block with 26.5 per cent stake while partners include Mitsui (20 per cent), ENH (15 per cent) and PTTEP (8.5 per cent), ONGC Videsh Ltd (16 per cent), BPCL (10 per cent) and Oil India Ltd (4 per cent).

Source: Reuters / The Hindu

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