Anadarko EVP Mitch Ingram said that the Mozambique LNG project appears to be in position to take FID (Final Investment Decision) in the first half of 2019. Ingram was speaking at an energy conference this week.
He also noted that Anadarko has found there to be roughly $4 billion in cost savings compared to its 2016 estimates.
Source: Anadarko
Mozambique Area 1
Area 1 of the deepwater Rovuma Basin was first discovered by Anadarko in 2010. Anadarko now aims to develop this area into one of the world’s largest LNG projects. The initial plans are for a two-train project with scope to expand up to 50 MTPA.
- Approximately 75 trillion cubic feet of recoverable natural gas
- 2 initial trains – 12.88 MTPA (Cost: $7.7 billion)
- 7 MTPA of announced off-take agreements (Target: 8.5 MTPA)
- Over the last five years, $850 million has been spent with Mozambican-registered suppliers
Anadarko’s goals now are converting these non-binding commitments into fully termed sales agreements, continuing marketing efforts, site preparation, and a final wrap up of project financing.
Sponsors of the project include:
- Anadarko
- Mitsui & Co
- OVL
- ENH
- Bharat Petroleum
- PTT Exploration and Production Public Company Limited (PTTEP)
- Oil India Limited
