French energy company Total has purchased a 26.5% stake in a liquid natural gas (LNG) project in Mozambique from Anadarko for $3.9bn. The LNG project includes the Golfinho and Atum fields in Offshore Area 1 and the construction of a liquefaction plant with a capacity of 12.9 million tonnes per year. Offshore Area 1 is estimated to have 60 trillion cubic feet (TcF) of gas resources, with 18 trillion TcF set to be developed in the first two years.
Total says that the project is largely de-risked, as 90% of its production ….