Anadarko Petroleum Corp. approved a $25 billion liquefied natural gas project in Mozambique which could help transform the economy of one of the world’s poorest countries

Anadarko Petroleum Corp. approved a $25 billion liquefied natural gas project in Mozambique which could help transform the economy of one of the world’s poorest countries

 

Anadarko Chief Executive Office Al Walker signed a final investment agreement with Mozambique President Filipe Nyusi in the capital, Maputo. Anadarko sees Mozambique having the potential to become one of the largest LNG suppliers in the world, and the project, expected to export to countries in Asia and Europe, will play a big part. The project will be funded with $11 billion of equity and $14 billion of debt.

“Over time this project will double this country’s GDP,” Walker said at the signing ceremony.....

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