Anadarko Approves $20bn Project For Mozambique

Anadarko Petroleum Corp has approved the construction a $20 billion LNG and export terminal for Mozambique.

Speaking on the firm’s decision CEO Al Walker is quoted as stating, "As the world increasingly seeks cleaner forms of energy, the Anadarko-led Area 1 Mozambique LNG project is ideally located to meet growing demand, particularly in expanding Asian and European markets."

The planned project will be the largest of its kind in Africa. It is also the largest sanction ever in sub-Saharan Africa oil and gas. The facility is projected to have a capacity of 12.88 million tonnes annually. An additional 15.2 million tonnes project in the country is still awaiting approval from US energy firm Exxon.

The government of Mozambique hopes that the investment will create 50,000 new jobs, 5,000 directly and 45,000 indirectly.