Mitch Ingram, Anadarko Executive Vice President, International, Deepwater and Exploration, delivered a keynote address today at the World Gas Conference in Washington D.C. Ingram announced he expects the Anadarko-led Mozambique LNG project to be in position to take FID (Final Investment Decision) in the first half of 2019.

He also announced the project and its contractors are realizing significant cost savings amounting to approximately $4 billion over 2016 estimates. As a result of these savings, Anadarko expects to deliver the first two onshore liquefaction trains with 12.88 million tonnes per annum (MTPA) capacity for approximately $7.7 billion, which is less than $600 per tonne.

In addition, the company reiterated that it has announced 6.7 MTPA of off-take agreements and has agreed to key terms for the targeted volume of 8.5 MTPA, enabling it to proceed with incremental project financing discussions with lenders. The focus now is on converting these non-binding commitments into fully termed Sale and Purchase Agreements.

About Anadarko

Anadarko Petroleum Corporation's (NYSE: APC) mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2017, the company had approximately 1.44 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies.