Anadarko Announces LNG Sale and Purchase Agreement with Tokyo Gas and Centrica
HOUSTON, Feb. 5, 2019 /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 Sale and Purchase Agreement (SPA) with Tokyo Gas Co., Ltd. (Tokyo Gas) and Centrica LNG Company Ltd., a subsidiary of Centrica plc (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.
"This innovative co-purchasing agreement with Tokyo Gas and Centrica will ensure a reliable supply of clean-burning natural gas to help meet the energy demands of Japan and Europe. It signals the beginning of a new and lasting relationship between Mozambique's first onshore LNG development and these two prominent and respected foundation customers," said Mitch Ingram, Anadarko Executive Vice President, International, Deepwater & Exploration. "With the vast resources we have discovered in Area 1 and our capability to compete in global LNG markets, Mozambique LNG is poised to become a key LNG supplier for decades to come. We are excited to support the Japanese government's desire for competitively priced and flexible long-term supply of LNG to proactively manage demand fluctuations in their home markets and enhance the nation's energy security. We expect to announce additional SPAs in the near future, as we continue to make demonstrable progress toward taking a final investment decision in the first half of this year."
Anadarko is developing Mozambique's first onshore LNG plant 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).
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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 and partner approvals, enter into long-term sales contracts, take FID and the timing thereof, 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:
Mike Pearl, [email protected], +1 832.636.3271
Kate Sloan, [email protected], +1 832.636.2562
Andy Taylor, [email protected], +1 832.636.3089
Jon VandenBrand, [email protected], +1 832.636.1007
MEDIA:
John Christiansen, [email protected], +1 832.636.8736
Helen Rhymes, [email protected], +1 832.636.2366
SOURCE Anadarko Petroleum Corporation
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