Anadarko Petroleum has already sold 2/3 of the natural gas it plans to extract in Mozambique

25 March 2014

US oil and gas group Anadarko Petroleum has already sold two thirds of the processing capacity of the future natural gas processing plant in Mozambique to Asian customers, the company’s chief executive said.

At an energy conference in New Orleans, Al walker said he hoped to sell the remaining third soon.

The group is the main investor and is the operator of the Area 1 block in the Rovuma Basin, northern Mozambique, where estimates point to the existence of 65 trillion cubic feet of natural gas.

“I can say that we have removed the risk of this project,” Walker said, noting that a decision about the investment to be made in the natural gas liquefaction unit would be made at the end of the year.

The CEO of the US group also said that the remaining third of the natural gas would likely also be sold to Asian customers.

Meanwhile, the next “Powering Africa: Mozambique” conference will take place on 8 and 9 May at which Energy Minister Salvador Namburete is expected to present the current situation in the sector as well as investment opportunities in Mozambique. (macauhub)