MILAN: Anadarko Petroleum Corp. said it selected Saipem SpA’s joint venture with Chiyoda Corp. and CB&I as a contractor for the initial development of an onshore liquefied natural gas park in Mozambique, bringing the project closer to final investment decision.
The planned LNG export project will be fed by Offshore Area 1 reserves in the Rovuma Basin and target Asian markets. Anadarko has said that Area 1 holds more than 75 trillion cubic feet of recoverable gas.
The scope of the work in the accord includes two LNG trains, each with a capacity of 6 million tons per annum; two LNG storage tanks; condensate storage; a multi-berth marine jetty; and associate utilities and infrastructure.
“This should be viewed as good news as Anadarko is one step closer to final investment decision, which would be the optimal time to potentially monetize some of their working interest,” analysts at Simmons & Co. wrote in a note to clients.
Saipem JV to develop LNG park
