French oil major Total has completed the acquisition of Anadarko’s 26.5% stake in Mozambique’s liquefied natural gas project for $3.9 billion, Total said on Monday, in a deal expected to raise much-needed revenue for Mozambique.
“Mozambique LNG is a one of a kind asset that perfectly fits with our strategy and expands our position in liquefied natural gas,” Total chairman and CEO Patrick Pouyanne said in a statement.
Anadarko has agreed to be taken over by Occidental Petroleum Corp. Anadarko led a liquefied natural gas project in Mozambique, but was replaced by Total after the French oil major agreed to buy Anadarko’s African assets for $8.8 billion as part of the Occidental takeover.
