Bloomberg: Mozambique Publishes Law Enabling Eni, Anadarko Gas Investments

Mozambique published a law enabling groups led by Anadarko Petroleum Corp. (APC) and Eni SpA to proceed with multi-billion dollar gas projects, setting financial and legal terms and allowing much of the revenue to be kept offshore.

The southern African nation’s council of ministers approved the law on Nov. 25 and included it in the Bulletin of the Republic dated Dec. 2, which was published yesterday in the capital, Maputo.

Eni and Woodlands, Texas-based Anadarko are considering whether to develop offshore fields that are estimated by Mozambique’s national oil company to hold 250 trillion cubic feet of gas. That’s enough to meet world consumption for more than two years. The country may become the world’s largest exporter of liquefied natural gas after Qatar and Australia.
MORE