US oil company Anadarko Petroleum is negotiating the annual supply of more than 8 million tons of natural gas from Mozambique to Asian customers in the long term, the company said during the presentation of its 2014 results.

The statement available on the group’s website reports that “Anadarko and its partners in Area 1 in the sea in Mozambique continued to move forward with arrangements for the long-term sale of liquefied natural gas to customers in the Asian market,” with contracts yet to be approved, but under negotiation, of over 8 million tons per year.

The statement presenting the company’s global accounts, with losses attributable to shareholders of almost US$500 million, or 0.78 cents per share, follows the approval in Mozambique, of the Petroleum Law, described as “a important step in creating the appropriate framework for a stable business environment for investors, customers, the financial sector and builders.”

Anadarko Petroleum’s partners in Area 1 are Mitsui EP Mozambique Area 1 Limitada (20 percent), BPRL Ventures Moçambique B.V. (10 percent), Videocon Moçambique Rovuma Area 1 Limitada (10 percent) and PTT Exploração e Produção Plc (8.5 percent), and state company Empresa Nacional de Hidrocarbonetos EP (ENH) – 15 percent – during the exploration phase. (macauhub/MZ)