(MENAFN) Anadarko Petroleum Corp. said it picked 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, Arab News reported.
The planned LNG export project will be fed by Offshore Area 1 reserves in the Rovuma Basin and target Asian markets. Anadarko 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 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. said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.