Mozambique

PTT Exploration and Production Public Company Limited (PTTEP) disclosed that Mozambique LNG1 Company Pte. Ltd., the jointly owned sales entity of PTTEP and joint venture partners of Mozambique Rovuma Offshore Area 1 project, has entered into a long-term LNG Sale and Purchase Agreement (SPA) with Shell International Trading Middle East Ltd. (Shell) which calls for 2 million tonnes per annum (MTPA) for a term of 13 years. This latest deal builds upon previous off-take agreements including the recent co-purchasing agreement with Tokyo Gas Co., Ltd. (Tokyo Gas) and Centrica LNG Company Ltd., a subsidiary of Centrica Plc. (Centrica) for the long-term LNG supply of 2.6 MTPA from the start-up of production until the early 2040s, and with CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. (CNOOC) for 1.5 MTPA for a term of 13 years. These agreements take total long-term sales to more than 7.5 MTPA, with additional deals expected in the near future. “These agreements add to our growing list of prominent and respected customers, demonstrating the excellent progress we are making towards the final investment decision in the first half of this year. They will also ensure a reliable supply of clean energy to help meet demands in a diverse number of markets across the globe,” said Phongsthorn Thavisin, President and Chief Executive Officer of PTTEP. Strategically located off the East Coast of Africa, 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 is progressing toward developing onshore LNG plant consisting of two initial LNG trains with 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 Mozambique Rovuma Offshore Area 1 project comprise 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 Rovuma Area Um, S.A. (15 percent), Mitsui E&P Mozambique Area 1 Ltd. (20 percent), ONGC Videsh Ltd. (10 percent), Beas Rovuma Energy Mozambique Limited (10 percent) and BPRL Ventures Mozambique B.V. (10 percent).