Anadarko Has Sold Two-Thirds of Mozambique LNG Project Capacity

Anadarko Petroleum Corp has sold two-thirds of the capacity of its planned Mozambique LNG project to Asian customers and hopes to have the rest sold soon, news agency Reuters reported its chief executive as saying on Monday.

"We think we have financially de-risked the project," Anadarko CEO Al Walker said in an interview to Reuters at the Howard Weil energy conference in New Orleans. "We expect to make a final investment decision on the project later this year."

Anadarko and its partners are advancing a commercial LNG development onshore Mozambique with first cargoes planned in 2018. The joint venture has drilled more than 20 deepwater wells within Mozambique Offshore Area 1 Block discovering an estimated 45 to 70 trillion cubic feet (Tcf) of recoverable natural gas. 

Walker said he expects the remaining third of the Mozambique capacity to be sold to Asian customers, not European customers, despite recent tensions between Europe and Russia over Ukraine, added Reuters. 

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