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Mozambique Approves Anadarko's $20 Billion Natural-Gas Plan

  • Government endorses plan to develop northern gas deposit
  • Andarko now needs to sign adequate purchase agreements
Updated on

Mozambique’s council of ministers approved the development plan for Anadarko Petroleum Corp.’s liquefied natural-gas project in the north of the nation, an investment estimated at about $20 billion.

The government announced the decision in a statement on Tuesday. The next major requirement that the Anadarko-led consortium has to meet before reaching a final investment decision on the Area 1 project is to sign enough sales and purchase agreements, according to the company.