Anadarko eyes $200M investment toward Mozambique LNG project

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

Anadarko Petroleum (APC +1.6%) says it has allocated $200M for a planned Mozambique liquefied natural gas export project and plans to make a final investment decision in H1 2019.

The $200M figure represents the portion of the costs associated with ongoing site preparation for the shared onshore facilities, the company says.

APC says it expects to upgrade current non-binding offtake agreements into sales and purchase agreements by the end of this year and sign more deals with new customers in Asia.

Construction is expected to start by the end of 2019, with the first LNG exports by 2023, according to the FID time frame announced earlier this year.

Earlier: Anadarko unveils 2019 capex outlook, ups dividend, raises stock buybacks (Nov. 15)

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