US group Anadarko Petroleum is expected to make a final investment decision about its natural gas exploration project in Mozambique in the first half of 2019, said the vice president of the group at the World Gas Conference, held in Washington from 25 to 29 June.
Mitchell Ingram also told Reuters that the group is ready to move forward as soon as it can secure enough customers for the natural gas that will be extracted.
The statement was made one week after the Mozambique LNG1 Company Pte. Ltd., the company set up to trade the natural gas to be extracted in the Area 1 block of the Rovuma basin, entered into a non-binding agreement with Tokyo Gas Co., Ltd. and Centrica LNG Company Ltd. for the long-term supply of liquefied natural gas (LNG).
This extraction, processing and liquefaction project will have two onshore natural gas processing plants with the capacity to liquefy 12.88 million tons per year, which will mainly be sold to Asian markets, such as India and Japan.
The Area 1 block is operated by Anadarko Mozambique Area 1, Ltd, a wholly-owned subsidiary of the Anadarko Petroleum group, with a 26.5% stake, ENH Rovuma Area One, a subsidiary of state-owned Empresa Nacional de Hidrocarbonetos (ENH), with 15%, Mitsui E&P Mozambique Area1 Ltd. (20%), ONGC Videsh Ltd. (10%), Beas Rovuma Energy Mozambique Limited (10%), BPRL Ventures Mozambique B.V. (10%), and PTTEP Mozambique Area 1 Limited (8.5%).(macauhub)