Joint Venture Partners of Mozambique Rovuma Offshore Area 1 signed LNG Sale and Purchase Agreement

Energy Press Releases Tuesday February 27, 2018 17:06
Bangkok--27 Feb--PTTEP

PTT Exploration and Production Public Company Limited (PTTEP) announced Mozambique LNG1 Company Pte. Ltd., the jointly owned sales entity of PTTEP and other partners of Mozambique Rovuma Offshore Area 1 project, has entered into a long-term LNG Sale and Purchase Agreement (SPA) with Électricite de France, S.A. (EDF), an integrated electricity company headquarter in France. The off-take agreement calls for the supply of 1.2 million tonnes per annum (MTPA) for a term of 15 years.

"PTTEP endeavors to expedite the development of the Mozambique Rovuma Offshore Area 1 as one of the world's leading greenfield projects, to increase our petroleum reserves in the future," said Phongsthorn Thavisin, President for Exploration and Production of PTTEP.

The latest collaboration with EDF, one of the world's largest electric utilities, is another important milestone for the project. In addition, this SPA gives Mozambique LNG flexible access to European market which is one of our key strategic markets.

Meanwhile, the project also continue to advance additional LNG off-take agreements to support Final Investment Decision (FID), and this EDF sale is included in the portfolio of sales of more than 5 MTPA, which the joint venture partners and buyers have agreed key terms.

The Mozambique Rovuma Offshore Area 1 project is one of PTTEP's key natural gas projects as the company continues to consider investments in new potential areas with competitive cost structure. The project will be Mozambique's first onshore LNG development, initially consisting of two LNG trains with a total nameplate capacity of 12.88 MTPA to support the development of the Golfinho/Atum fields located entirely within Offshore Area 1.

About Mozambique Rovuma Offshore Area 1 Project

The Mozambique Rovuma Offshore Area 1 Project is a large gas project located in offshore Mozambique consisting of Prosperidade field, Golfinho-Atum field, Orca field, Tubarao field and Tubarao-Tigre field with substantial recoverable natural gas resources of approximately 75 trillion cubic feet (TCF) and potential to become one of the world's largest emerging LNG supply hubs.

The joint venture partners of Mozambique Rovuma Offshore Area 1 project comprise of PTTEP Mozambique Area 1 Limited, a subsidiary of PTTEP with 8.5 percent of participating interest, Anadarko Mozambique Area 1, the operator, with 26.5 percent, ENH RovumaArea Um, S.A. with 15 percent, Mitsui E&P Mozambique Area 1 Ltd. with 20 percent, ONGC Videsh Ltd. with 10 percent, BEAS Rovuma Energy Mozambique Limited with 10 percent and BPRL Ventures Mozambique B.V. with 10 percent.

About PTTEP

PTT Exploration and Production Public Company Limited (PTTEP), a subsidiary of PTT Public Company Limited, is a Thai petroleum exploration and production company dedicating itself to providing a sustainable petroleum supply to Thailand and the countries it operates in. As of December 31, 2017, PTTEP had exploration and production projects in 10 countries worldwide. The Company continues to ensure energy sustainability by implementing both a new long-term organizational strategy and a business plan that will support its aspiration to become a leading exploration and production company in Asia.


Latest Press Release

LONGi Solar achieves top-performing AA-rating status in new PV ModuleTech Bankability rankings

LONGi Solar, a subsidiary of LONGi Green Energy Technology Co., Ltd, has achieved AA-Rating status, in the first quarterly release of PV-Tech's new PV ModuleTech Bankability Ratings. LONGi Solar is one of only four solar photovoltaic (PV) module...

Thailand and Germany kick-start efforts to increase the climate resilience of communities at Sakaekrang river basin

The Office of the National Water Resources (ONWR) with support from the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH organised a launch of their joint project activities under the Thai-German Climate Programme - Water (TGCP –...

Risen Energy#s USD 467 million high-efficiency heterojunction project in Ninghai, China commences construction

On August 19, Risen Energy Co., Ltd. held a groundbreaking ceremony for its 2.5GW high-efficiency heterojunction cell and module project in Ninghai, a county within the city of Ningbo, Zhejiang province. On the same day, several other major projects...

First Training on the Safe Use and Handling of Flammable Natural Refrigerants in Air Conditioners Launched in Thailand

Mongkut's University of Technology North Bangkok (KMUTNB), the Electricity Authority of Thailand (EGAT), and the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH joined up to launch the "Grand Opening of First R Training: Safe Use and...

UPDATE: Venture Global Announces Final Investment Decision and Financial Close for Calcasieu Pass LNG

Venture Global LNG, Inc. is proud to announce the final investment decision (FID) and closing of the project financing for the company's Calcasieu Pass LNG facility and associated TransCameron pipeline in Cameron Parish, Louisiana. The proceeds of the...

Related Topics