HOUSTON, May 13, 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 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).
Logo - http://photos.prnewswire.com/prnh/20141103/156201LOGO
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
2018, the company had approximately 1.47 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, 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 2018 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, mike.pearl@anadarko.com, +1 832.636.3271
Kyle Deakins,
kyle.deakins@anadarko.com, +1 832.636.2354
Jon VandenBrand, jon.vandenbrand@anadarko.com, +1
832.636.1007
MEDIA:
John
Christiansen, john.christiansen@anadarko.com, +1
832.636.8736
Helen Rhymes,
helen.rhymes@anadarko.com, +1 832.636.2366
View original
content:http://www.prnewswire.com/news-releases/anadarko-announces-lng-sale-and-purchase-agreement-with-jera-and-cpc-corporation-taiwan-300848618.html
SOURCE Anadarko Petroleum Corporation