Anadarko agrees Mozambique LNG sale, banks/ECAs discuss finance terms

(Reuters, London, 20 February 2018) Anadarko Petroleum’s plan to export liquefied natural gas (LNG) from Mozambique moved a step closer to completion on Tuesday after it agreed a 15-year LNG sales and purchase agreement (SPA) with Electricite de France. France’s state-controlled utility will take 1.2 million tonnes of LNG annually from the Mozambique Area 1 marketing venture led by Anadarko and consisting of Japanese trader Mitsui, India’s ONGC Videsh and Thailand’s PTT, among others. LNG project developers across the board have struggled to find the long-term buyers needed before banks and export credit agencies could commit financing for new plants.