UAE's Adnoc to Buy Galp's Stake in Mozambique LNG Project [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The United Arab Emirates' main oil company agreed to buy a 10% stake in a natural gas project in Mozambique, its second major deal this week as it seeks to expand the business globally. Abu Dhabi National Oil Co. will purchase the stake in the Area 4 concession from Galp Energia SGPS SA, it said in a statement Wednesday. Galp will receive $650 million, and further contingent payments of as much as $500 million when two planned development phases go ahead, the Portugese company said in a separate statement. Article content Article content The agreement gives Adnoc a share of LNG supply, a fuel that it's betting on for future growth. The company is also scouring the world for deals, including the takeover of German chemical company Covestro AG and the merger of one of its units with a subsidiary of Austria's OMV AG to create a $30 billion petroche
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- NextDecade (NEXT) and Saudi Aramco Sign 20-Year LNG Agreement [Yahoo! Finance]Yahoo! Finance
- Saudi Aramco signs 20-year LNG supply deal with NextDecade [Yahoo! Finance]Yahoo! Finance
- Aramco and NextDecade Announce Heads of Agreement for the 1.2 MTPA Long-Term Offtake of LNG from the Rio Grande LNG Facility [Yahoo! Finance]Yahoo! Finance
- Aramco and NextDecade Announce Heads of Agreement for the 1.2 MTPA Long-Term Offtake of LNG from the Rio Grande LNG FacilityBusiness Wire
- Sinopec secures $1.1bn gas pipeline contract from Aramco [Yahoo! Finance]Yahoo! Finance
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