By RFPosted on 06-10-2019Modified on 06-10-2019 at 18:56

The French hydrocarbon group Total has just finalized the acquisition of the stake of the American group Anadarko in a project of liquefied natural gas (LNG) in Mozambique.

Total is preparing to spend 3.58 billion euros to acquire the 26.5% held by the company Anadarko Petroleum in the project Mozambique LNG (liquefied natural gas). This is the first part finalized after the agreement reached on May 3 with Occidental Petroleum, another American who had just made a takeover bid on Anadarko, in order to acquire the assets of the American company in Africa.

🇲🇿🏭 @Total becomes the operator (26.5%) of #MozambiqueLNG and strengthens its position in liquefied natural gas. It will be the first #GNL plant in the country & part of the #gaz will be destined for the domestic market to contribute to the economic development of #Mozambique. Starting in 2024. pic.twitter.com/YimM2kNqFe

Total Press Office (@TotalPress) September 30, 2019

In addition to Mozambique, Anadarko also has assets in South Africa, Ghana and Algeria. The signing of the definitive agreement between the two major groups took place two months ago, on August 3, 2019. The acquisition of a quarter of the assets of Mozambique LNG makes Total the majority player in this project, whose start-up is expected in 2024.

Largest acquisition of Total in 20 years

The transaction finalization transactions for Anadarko's assets in the other three countries of the continent are still ongoing. Once completed, this acquisition of the African assets of the American will be the largest acquisition of Total for almost twenty years. According to some analysts, it will allow it to increase its production by 5% by 2025.

After launching a takeover bid on his compatriot, the American Occidental Petroleum did not want to keep Anadarko's African assets. Total benefited by being the highest bid against Chevron, another American oil company.

â–ş See also : Mozambique: Liquefied natural gas soon to be exploited on a large scale

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