HOUSTON, June 15, 2018 /PRNewswire/ -- Anadarko
Petroleum Corporation (NYSE: APC) today announced Mozambique LNG1 Company Pte. Ltd., the jointly
owned sales entity of the Mozambique Area 1 co-venturers, has signed a
Heads of Agreement (HOA) with Tokyo Gas Co., Ltd. (Tokyo
Gas) and Centrica LNG Company Ltd. (Centrica) for the
long-term supply of LNG. The co-purchasing off-take agreement calls
for the delivered ex-ship supply of 2.6 million tonnes per
annum (MTPA) from the start-up of production until the early
2040s.
"Tokyo Gas and Centrica have a strong global reputation in the
industry, and we are delighted they have made this commitment to
the Mozambique LNG project," said Mitch
Ingram, Anadarko Executive Vice President, International,
Deepwater & Exploration. "At 2.6 MTPA, this HOA represents a
significant portion of the marketing off-take target we have set
for FID, and it further reinforces our previous updates on the
project, which have stated our focus now is on converting these
non-binding commitments into fully termed Sale and Purchase
Agreements. Importantly, this HOA brings together the Anadarko-led
Mozambique LNG project and two additional prestigious customers,
and it is closely aligned with the Japanese government's desire for
a competitively priced and flexible long-term supply of LNG to
enhance the nation's energy security.
"This off-take arrangement takes full advantage of Mozambique's favorable central location, which
enables Mozambique LNG to supply customers in both the European and
Asian-Pacific markets," added Ingram. "The innovative co-purchasing
arrangement provides flexibility to assist both customers in
proactively managing demand fluctuations in their own home
markets."
The Anadarko-operated Mozambique LNG project will be
Mozambique's first onshore LNG
development, initially consisting of two LNG trains with total
nameplate capacity of 12.88 MTPA to support the development of the
Golfinho/Atum fields located entirely within Offshore Area 1.
Anadarko Moçambique Área 1, Lda, a wholly owned subsidiary of
Anadarko Petroleum Corporation, operates Offshore Area 1 with a
26.5-percent working interest. Co-venturers include ENH Rovuma Área
Um, S.A. (15 percent), Mitsui E&P Mozambique Area1 Ltd. (20
percent), ONGC Videsh Ltd. (10 percent), Beas Rovuma Energy
Mozambique Limited (10 percent), BPRL Ventures Mozambique B.V. (10
percent), and PTTEP Mozambique Area 1 Limited (8.5 percent).
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Anadarko Petroleum Corporation's mission is 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. As of year-end
2017, the company had approximately 1.44 billion barrels-equivalent
of proved reserves, making it one of the world's largest
independent exploration and production companies. For more
information about Anadarko and APC Flash Feed updates, please visit
www.anadarko.com. Learn more about the Mozambique LNG project at
www.mzlng.com.
This news release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Anadarko
believes that its expectations are based on reasonable assumptions.
No assurance, however, can be given that such expectations will
prove to have been correct. A number of factors could cause actual
results to differ materially from the projections, anticipated
results or other expectations expressed in this news release,
including Anadarko's ability to successfully plan, secure
additional government approvals, convert the HOA into a final Sale
and Purchase Agreement and enter into additional long-term sales
contracts, finance, build, and operate the necessary infrastructure
and LNG park in Mozambique. See
"Risk Factors" in the company's 2017 Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and other public filings and press
releases. Anadarko undertakes no obligation to publicly update or
revise any forward-looking statements.
Anadarko Contacts
INVESTORS:
Robin
Fielder, robin.fielder@anadarko.com, +1 832.636.1462
Kate Sloan, kate.sloan@anadarko.com,
+1 832.636.2562
Andy Taylor,
andy.taylor@anadarko.com, +1 832.636.3089
MEDIA:
John
Christiansen, john.christiansen@anadarko.com, +1
832.636.8736
Helen Wells,
helen.wells@anadarko.com, +1 832.636.2366
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SOURCE Anadarko Petroleum Corporation