NEW ORLEANS, March 24 Anadarko Petroleum Corp
has sold two-thirds of the capacity of its planned
Mozambique liquefied natural gas (LNG) project to Asian
customers and hopes to have the rest sold soon, its chief
executive said on Monday.
The company is the primary operator of Mozambique's Rovuma
Offshore Area 1, which is estimated to hold more than 65
trillion cubic feet of natural gas. LNG, gas chilled to liquid
form for sea transport, is a key fuel source and many Asian
nations have been hungry to find steady sources. To develop
massive LNG projects though, financiers often require customers
to be lined up well in advance.
"We think we have financially de-risked the project,"
Anadarko CEO Al Walker said in an interview at the Howard Weil
energy conference in New Orleans. "We expect to make a final
investment decision on the project later this year."
Walker said he expects the remaining third of the Mozambique
capacity to be sold to Asian customers, not European customers,
despite recent tensions between Europe and Russia over Ukraine.
(Reporting by Ernest Scheyder; Editing by Paul Tait)