Reuters: Anadarko Not Selling Down Mozambique Stake

Anadarko Petroleum Corp has no interest in selling down its stake in a planned liquefied natural gas (LNG) project in Mozambique, the company's chief executive said on Wednesday, following talk of international interest in the southern African country's gas reserves.

The Houston company's desire to sell some of its interest in the project "approaches zero," CEO Al Walker told investors on a conference call to discuss second-quarter earnings.

Anadarko would like to be the operator on the multi-billion dollar project, so reducing its stake would put that status into question, said Walker.

There has been talk of intense interest in Mozambique's gas reserves from national oil companies and the world's largest oil companies. Anadarko has a 26.5 percent stake in the Area 1 license in the Rovuma Basin offshore Mozambique. MORE