Woodlands-based Anadarko said the Mozambique LNG project moved forward in the first quarter of 2018, meeting its near-term marketing objective.
In its first-quarter report, the company reminded that it in March, the Mozambique government approved the Anadarko-operated Area 1 Golfinho/Atum plan of development defining the integrated onshore LNG project from the reservoir to the market.
The Mozambique LNG project also made good progress on marketing with a long-term LNG sale and purchase agreement (SPA) for 1.2 million tonnes per annum for a period of 15 years with, Électricité de France (EDF).
The near-term marketing objective has been met with non-binding key terms agreed with multiple buyers for more than 8.5 million tonnes per annum, the company said, adding that the focus is now on converting these agreements to binding long-term SPAs.
The company has also turned into profit during the first quarter posting a net income of $121 million, compared to a net loss of $318 million in the corresponding period the year before.
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 operates the Offshore Area 1 through its unit Anadarko Moçambique Área 1 that has a 26.5 percent working interest. Other partners include ENH Rovuma Área (15 percent), Mitsui E&P Mozambique Area1 (20 percent), ONGC Videsh (10 percent), Beas Rovuma Energy Mozambique (10 percent), BPRL Ventures Mozambique (10 percent), and PTTEP Mozambique Area 1 (8.5 percent).
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