Shearman & Sterling advised Mozambique LNG as the marketer of long-term LNG to several customers ahead of its Final Investment Decision (FID) in June 2019 on the Anadarko-led Area 1 Mozambique LNG project. Our involvement included drafting and negotiation of long-term LNG sale and purchase agreements with several long-term buyers including Bharat Gas Resources Ltd., a wholly owned subsidiary of Bharat Petroleum Corporation Ltd. (BPCL), and Shell International Trading Middle East Ltd. (Shell).
The Anadarko-led Area 1 Mozambique LNG project will be Mozambique’s first onshore LNG development, initially consisting of two LNG trains with total nameplate capacity of 12.88 million tons per annum (MTPA) to support the development of the Golfinho/Atum fields located entirely within Offshore Area 1. The project has successfully secured in aggregate 11.1 MTPA of long-term LNG sales (representing 86% of the plant's nameplate capacity) with key LNG buyers in Asia and in Europe. Additionally, the project is expected to have a significant domestic gas component for in-country consumption to help fuel future economic development.
Anadarko Petroleum Corporation is among the world’s largest independent oil and natural gas exploration and production companies, with corporate offices in The Woodlands, Texas. The company’s portfolio of assets encompasses premier positions in the Delaware and DJ basins onshore U.S., and oil-focused opportunities in the Gulf of Mexico and deepwater basins worldwide.
The team below included associate Joe Freeman (Singapore-Project Finance & Development).