Total Acquires Anadarko's 26.5% Stake in Mozambique LNG for $3.9 Billion
Total has closed the acquisition of Anadarko's 26.5% operated interest in the Mozambique LNG project for $3.9 billion. This follows a binding agreement with Occidental on May 3, 2019, and the signing of a Purchase and Sale Agreement on August 3, 2019. Mozambique LNG is the country’s first onshore LNG development, including the Golfinho and Atum fields and a liquefaction plant with a capacity of 12.9 million tonnes per year. The project is expected to start production by 2024.
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Total has completed the acquisition of Anadarko's 26.5% interest in the Mozambique LNG project for $3.9 billion. This transaction follows agreements made on May 3 and August 3, 2019, and has received all required approvals.
Mozambique LNG, which includes development of the Golfinho and Atum fields and a liquefaction plant with a capacity of 12.9 million tonnes per year, is set to begin production in 2024. The project has secured long-term contracts for nearly 90% of its production.
Total's partners include ENH Rovuma Área Um, S.A. (15%), Mitsui E&P Mozambique Area1 Ltd. (20%), and others. Closing operations for Anadarko's assets in Algeria, Ghana, and South Africa are ongoing.
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