Anadarko Announces LNG Sale and Purchase Agreement with JERA And CPC Corporation, Taiwan

Source Press Release
Company Anadarko Petroleum Corp.Bharat Petroleum Corporation LimitedChubu Electric Power CompanyCPC CorporationENHJERA Co., Inc.Mitsui & Co., Ltd.ONGCPTTTokyo Electric Power Company Holdings Inc. 
Tags Oil & Gas Trading, LNG & Gas Storage/Processing
Date May 13, 2019

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 Sale and Purchase Agreement (SPA) with JERA Co., Inc. (JERA) and  CPC Corporation, Taiwan(CPC). The SPA calls for the delivered ex-ship supply of 1.6 million tonnes per annum (MTPA) for a base term of 17 years from the commercial start date. Mozambique LNG's portfolio of long-term sales now includes four of the top five LNG importing markets in the world.

"This co-purchasing agreement with JERA and CPC brings together two prominent Asian foundation customers and will ensure a reliable supply of cleaner energy to meet the growing demands of both Japan and Taiwan", said Mitch Ingram, Anadarko Executive Vice President, International, Deepwater & Exploration. "We are excited to take the next step with the expected announcement of a Final Investment Decision (FID) for the Mozambique LNG project on June 18, as we remain on track to complete the project financing process and secure final approvals. This new SPA brings our total long-term agreements to 11.1 MTPA, and we are extremely pleased and grateful to JERA and CPC for selecting Mozambique LNG to be part of their long-term energy portfolio."

Anadarko is developing Mozambique's first onshore LNG facility consisting of two initial LNG trains with a total nameplate capacity of 12.88 MTPA to support the development of the Golfinho/Atum field 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).

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd