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Large Mozambique gas stake on offer

Bids were invited in March for a substantial interest in one of the world's largest undeveloped gas areas

Anadarko, operator for an offshore area which is due to supply a 10-train liquefied natural gas (LNG) complex, and India's Videocon, a participant, are selling a combined 20.0% holding in the licence. The sale is designed to attract one of the largest LNG players into the development, which is being targeted for a go-ahead decision this year. Each company is to sell 10.0% in the Area 1 licence, with Anadarko's interest falling to 26.5% and Videocon - controlled by Indian businessman Venugopal Dhoot - selling its entire holding. Other interests in the licence are Mitsui, with 20.0%, India's BPRL Ventures, 10.0%, Thailand's PTT, 8.5% and the state's ENH, 15.0%. Area 1 has seen three years of s

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