Eni, Anadarko considering large gas project in Mozambique

|About: Anadarko Petroleum Corporation (APC)|By:, SA News Editor

Eni (E) and Anadarko (APC) are strongly considering building a floating liquefied natural gas platform to export a portion of the gas they have discovered offshore Mozambique, NYT reported yesterday.

The companies likely will publish documents in the next few days soliciting interest from international contractors in the project, according to the report.

Eni and Anadarko already are in the early stages of designing an onshore liquefied natural gas facility in the country which probably would be one of the largest in the world; the potential floating operation would be a small fraction of the size, but it reflects a major new push to find cheaper and more efficient ways to produce the natural gas locked under the sea in remote areas.

Total development costs for the drilling and onshore export facilities are estimated at ~$50B.