Shell has made a play for a leading role in Mozambique’s nascent LNG export sector, proposing a £990 million ($1.56 billion) cash bid to acquire London-listed Cove Energy.
The jewel in Cove’s crown is a stake in Anadarko Petroleum’s prolific Offshore Area 1 in Mozambique, where an LNG project is planned.
The Anglo-Dutch supermajor will look to further boost its stake in Area 1 possibly by acquiring some of Anadarko’s operating interest, industry sources suggested.
Shell’s
