Mozambique: SPAs signed

Anadarko Petroleum and its partners in Mozambique LNG Area 1 have taken a major step towards a final investment decision (FID) with the signing of sales and purchase agreements (SPAs) with CNOOC, Tokyo Gas/Centrica and Shell.The three long-term SPAs total 6.1m t/yr, bringing the project’s total volume contracted in long-term sales to 7.58m t/yr, just short of the 8.5m t/yr Anadarko says it needs to secure financing for the 12.88m t/yr development. Anadarko has said that further deals are under negotiation as it approaches its stated goal of reaching FID during H1 this year.