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Project Insights

Chevron-Anadarko deal is a boost for Moz LNG

Chevron has thrown its support behind the Mozambique LNG project it will operate as part of the $50 billion takeover Chevron has thrown its support behind the Mozambique LNG project it will operate as part of the $50 billion takeover
By Leigh Elston 18 April 2019 Middle East & Africa / LNG 0 34144
An Anadarko drillship off Mozambique. (Anadarko)

The key issue: US oil major Chevron announced on Friday that it has entered into a definitive agreement to buy Anadarko in a stock and cash transaction valued at $50 billion.

Interfax analysis: Chevron’s acquisition of Anadarko will strengthen the Mozambique LNG project and bring forward the development of additional trains at the site.

Anadarko’s shale assets in the Permian Basin in the United States were the main impetus for the deal, but the company’s operating interest in the planned 12.88 mtpa Mozambique...