ADNOC Continues LNG Expansion With Stake in Mozambique Project

Abu Dhabi’s national oil company ADNOC has acquired a 10% interest in an LNG project offshore Mozambique as it continues to expand its international natural gas operations. ADNOC has bought the 10% stake in the Area 4 concession of the Rovuma basin in Mozambique held by Portugal’s Galp. The deal will entitle ADNOC to a share of the LNG production from the concession, which has a combined production capacity exceeding 25 million tonnes per annum (mtpa), the state energy firm of the United Arab Emirates (UAE) said on Wednesday.…