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This closing comes after Total reached a binding agreement with Occidental on May 3, 2019,
to acquire Anadarko’s assets in Africa (Mozambique, Algeria, Ghana and South Africa) and
signed the subsequent Purchase and Sale Agreement on August 3, 2019. This first transaction
follows receipt of all requisite approvals by the relevant authorities and partners.
“Mozambique LNG is one of a kind asset that perfectly fits with our strategy and expands our
position in liquefied natural gas”, said Patrick Pouyanné, Chairman & CEO of Total. “As the
new operator, we are fully committed to the Mozambique LNG project and we will bring the
best of our human, technical, marketing and financial capacities to further strengthen its
execution. Total will of course work on the strong foundations established by the previous
operator and its partners, in order to implement the project in the best interest of all those
involved, including the government and the people of Mozambique.”
Mozambique LNG is the country’s first onshore LNG development. The project includes the
development of the Golfinho and Atum fields located within Offshore Area 1 and the
construction of a two-trains liquefaction plant with a capacity of 12.9 million tonnes per year
(Mt/y). The Area 1 contains more than 60 Tcf of gas resources, of which 18 Tcf will be
developed with the first two trains. The Final Investment Decision (FID) on Mozambique LNG
was announced on June 18, 2019, and the project is expected to come into production by
2024.
The Mozambique LNG project is largely derisked since almost 90% of the production is already
sold through long-term contracts with key LNG buyers in Asia and in Europe. Additionally, the
project is expected to have a domestic gas component for in-country consumption to help fuel
future economic development.
Total operates Mozambique LNG with a 26.5% participating interest alongside ENH Rovuma
Área Um, S.A. (15%), Mitsui E&P Mozambique Area1 Ltd. (20%), ONGC Videsh Ltd. (10%),
Beas Rovuma Energy Mozambique Limited (10%), BPRL Ventures Mozambique B.V. (10%),
and PTTEP Mozambique Area 1 Limited (8.5%).
Closing operations are still ongoing in relation to Anadarko’s assets in the other countries
(Algeria, Ghana, South Africa).
Total, 2nd Largest Private Global LNG Player
Total is the second-largest private global LNG player, with an overall portfolio of around 40
Mt/y by 2020 and a worldwide market share of 10%. With 22 Mt of LNG sold in 2018, the Group
has solid and diversified positions across the LNG value chain. Through its stakes in
liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab
Emirates, the United States, Australia or Angola, the Group sells LNG in all markets.
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