February 22, 2018 - 7:00 AM EST
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Blog Exposure - Anadarko's Mozambique LNG Signs Agreement with France's EDF for Long-term Supply of LNG

Stock Monitor: Diamondback Energy Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 22, 2018 / Active-Investors.com has just released a free research report on Anadarko Petroleum Corp. (NYSE: APC) ("Anadarko"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=APC as the Company's latest news hit the wire. On February 20, 2018, the Company announced that its jointly owned sales entity of the Mozambique Area 1 co-venturers - Mozambique LNG1 Company Pte. Ltd has signed a long-term Sale and Purchase Agreement (SPA) with Électricité de France, S.A., (EDF). Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Anadarko Petroleum most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Details of the LNG SPA

As per the terms of the SPA. Mozambique LNG1 will supply 1.2 million tonnes per annum (MTPA) of LNG to France's EDF. The tenure of the agreement is for 15 years. EDF is a key power utility Company in France and one of the largest in the world. The current deal is expected to strengthen Mozambique LNG's position as a competitive long-term supplier of LNG. The deal also opens new opportunities for Mozambique LNG to expand its presence in the European market.

Commenting on Mozambique LNG signing the SPA with France's EDF, Mitch Ingram, Executive Vice President - International & Deepwater Operations and Project Management of Anadarko, said:

"Mozambique LNG is unique in its ability to supply LNG to a variety of geographic locations to serve its customers, and this SPA gives us flexible access to Europe, which is one of our key strategic markets. The EDF sale is included in the portfolio of sales of more than 5 MTPA for which we have agreed key terms, and we continue to advance additional off-take arrangements. We anticipate the future development of Mozambique LNG will open new opportunities for the country and serve as a growth platform for its ongoing development."

About Mozambique LNG project

Anadarko first discovered LNG in the Offshore Area 1 of the deepwater Rovuma Basin of Mozambique in 2010. The Company and its partners have discovered approximately 75 trillion cubic feet (Tcf) of recoverable natural gas resources in Offshore Area 1 and are working to develop one of the world's largest liquefied natural gas (LNG) projects. This project is named Mozambique LNG where Anadarko has 26.5% holding. The other participants in the project and their holdings include ENH Rovuma Área Um, S.A. with 15%, Mitsui E&P Mozambique Area1 Ltd. with 20%, ONGC Videsh Ltd with 10%, Beas Rovuma Energy Mozambique Limited with 10%, BPRL Ventures Mozambique B.V. with 10%, and PTTEP Mozambique Area 1 Limited with 8.5%.

Mozambique LNG project will be Mozambique's first onshore LNG development. Anadarko will initially manage operations with two LNG trains with total nameplate capacity of 12.88 million mt/year. The operations will mainly support the development of the Golfinho/Atum fields located entirely within Offshore Area 1. The Company is planning to develop complexes which will be used to feed an onshore LNG terminal on the Afungi peninsula in Cabo Delgado province. The project is expected to be operational from early 2020s.

In December 2017, Mozambique LNG had signed a basic agreement with Japan's Tohoku Electric Power Co. The 15 years long-term agreement was for the annual supply of 280,000 tonnes of LNG from the start of the project. In September 2017, Thailand's state-owned PTT signed a 20-year preliminary deal to purchase 2.6 million tonnes of LNG a year from Mozambique LNG.

About Anadarko Petroleum Corp.

The Woodlands, Texas-based Anadarko is one of world's largest independent oil and natural gas exploration and production companies. The Company aims to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. The Company had approximately 1.44 billion barrels-equivalent of proved reserves as on year-end 2017. Anadarko employs approximately 4,500 people.

Stock Performance Snapshot

February 21, 2018 - At Wednesday's closing bell, Anadarko Petroleum's stock dropped 3.34%, ending the trading session at $57.27.

Volume traded for the day: 6.52 million shares, which was above the 3-month average volume of 5.69 million shares.

Stock performance in the last three-month – up 18.94%; previous six-month period – up 36.20%; and year-to-date - up 6.77%

After yesterday's close, Anadarko Petroleum's market cap was at $31.57 billion.

The stock has a dividend yield of 1.75%.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.

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Source: ACCESSWIRE Investor Awareness (February 22, 2018 - 7:00 AM EST)

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