{"id":82741,"date":"2019-10-02T00:06:36","date_gmt":"2019-10-01T22:06:36","guid":{"rendered":"http:\/\/beta.next-finance.net\/investment-banking\/marches-prives\/total-closes-the-acquisition-of-anadarkos-shareholding-in-mozambique-lng\/"},"modified":"2019-10-02T00:06:36","modified_gmt":"2019-10-01T22:06:36","slug":"total-closes-the-acquisition-of-anadarkos-shareholding-in-mozambique-lng","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/investment-banking\/marches-prives\/total-closes-the-acquisition-of-anadarkos-shareholding-in-mozambique-lng\/","title":{"rendered":"Total Closes the Acquisition of Anadarko\u2019s Shareholding in Mozambique LNG"},"content":{"rendered":"<p>This closing comes after Total reached a binding agreement with Occidental on May 3, 2019,<br \/>\nto acquire Anadarko\u2019s assets in Africa (Mozambique, Algeria, Ghana and South Africa) and<br \/>\nsigned the subsequent Purchase and Sale Agreement on August 3, 2019. This first transaction<br \/>\nfollows receipt of all requisite approvals by the relevant authorities and partners.<\/p>\n<p><em>\u201cMozambique LNG is one of a kind asset that perfectly fits with our strategy and expands our<br \/>\nposition in liquefied natural gas\u201d<\/em>, said Patrick Pouyann\u00e9, Chairman &#038; CEO of Total. <em>\u201cAs the<br \/>\nnew operator, we are fully committed to the Mozambique LNG project and we will bring the<br \/>\nbest of our human, technical, marketing and financial capacities to further strengthen its<br \/>\nexecution. Total will of course work on the strong foundations established by the previous<br \/>\noperator and its partners, in order to implement the project in the best interest of all those<br \/>\ninvolved, including the government and the people of Mozambique.\u201d<\/em><\/p>\n<p>Mozambique LNG is the country\u2019s first onshore LNG development. The project includes the<br \/>\ndevelopment of the Golfinho and Atum fields located within Offshore Area 1 and the<br \/>\nconstruction of a two-trains liquefaction plant with a capacity of 12.9 million tonnes per year<br \/>\n(Mt\/y). The Area 1 contains more than 60 Tcf of gas resources, of which 18 Tcf will be<br \/>\ndeveloped with the first two trains. The Final Investment Decision (FID) on Mozambique LNG<br \/>\nwas announced on June 18, 2019, and the project is expected to come into production by<br \/>\n2024.<\/p>\n<p>The Mozambique LNG project is largely derisked since almost 90% of the production is already<br \/>\nsold through long-term contracts with key LNG buyers in Asia and in Europe. Additionally, the<br \/>\nproject is expected to have a domestic gas component for in-country consumption to help fuel<br \/>\nfuture economic development.<\/p>\n<p>Total operates Mozambique LNG with a 26.5% participating interest alongside ENH Rovuma<br \/>\n\u00c1rea Um, S.A. (15%), Mitsui E&#038;P Mozambique Area1 Ltd. (20%), ONGC Videsh Ltd. (10%),<br \/>\nBeas Rovuma Energy Mozambique Limited (10%), BPRL Ventures Mozambique B.V. (10%),<br \/>\nand PTTEP Mozambique Area 1 Limited (8.5%).<\/p>\n<p>Closing operations are still ongoing in relation to Anadarko\u2019s assets in the other countries<br \/>\n(Algeria, Ghana, South Africa).<\/p>\n<p><strong>Total, 2nd Largest Private Global LNG Player<\/strong><\/p>\n<p>Total is the second-largest private global LNG player, with an overall portfolio of around 40<br \/>\nMt\/y by 2020 and a worldwide market share of 10%. With 22 Mt of LNG sold in 2018, the Group<br \/>\nhas solid and diversified positions across the LNG value chain. Through its stakes in<br \/>\nliquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab<br \/>\nEmirates, the United States, Australia or Angola, the Group sells LNG in all markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Total announces the closing of the acquisition of Anadarko\u2019s<br \/>\n26.5% operated interest in the Mozambique LNG project for a purchase price of $ 3.9 billion.<\/p>\n","protected":false},"author":20,"featured_media":82739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1601],"tags":[1671,1888,1744,1437,2103,2035,1702],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/82741"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=82741"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/82741\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/82739"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=82741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=82741"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=82741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}