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Mozambique LNG update from Anadarko at WGC18

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LNG Industry,

Mitch Ingram, Anadarko Executive Vice President, International, Deepwater and Exploration, delivered a keynote address at the World Gas Conference in Washington D.C. in which he announced that he expects the Anadarko-led Mozambique LNG project to be in position to take FID (Final Investment Decision) in H1 2019.

He also announced that the project and its contractors are realising significant cost savings amounting to approximately US$4 billion over 2016 estimates. As a result of these savings, Anadarko expects to deliver the first two onshore liquefaction trains with 12.88 million tpy capacity for approximately US$7.7 billion (less than US$600/t).

In addition, the company reiterated that it has announced 6.7 million tpy of off-take agreements and has agreed to key terms for the targeted volume of 8.5 million tpy, enabling it to proceed with incremental project financing discussions with lenders. The focus now is on converting these non-binding commitments into fully termed Sale and Purchase Agreements (SPAs).

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