Total
announces the closing of the acquisition of Anadarko’s 26.5% operated interest
in the Mozambique LNG project for a purchase price of $ 3.9 billion.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 becomes operator (26.5%) of #MozambiqueLNG and
expands its position in liquefied natural gas. It will be the country’s 1st
onshore #LNG plant & a domestic #gas component for in-country consumption
will help fuel economic development in #Mozambique. Start up in 2024!
pic.twitter.com/qJK1kmvjHu
— Total Press
Office (@TotalPress) September 30, 2019
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.
About Total
Total is a major energy player that produces and
markets fuels, natural gas and low-carbon electricity. Our 100,000 employees
are committed to better energy that is safer, more affordable, cleaner and
accessible to as many people as possible. Active in more than 130 countries,
our ambition is to become the responsible energy major.
