Anadarko touts East Africa natural gas prospects |
| MarketWatch - Nov 28, 2011 |
Anadarko Petroleum Corp. on Monday doubled its reserve estimate for natural gas fields off the coast of East Africa and said it’s moving toward an investment decision on a proposed liquefied natural gas operation in the region.
Anadarko /quotes/zigman/217978/quotes/nls/apc APC +6.15% said it could recover up to 30 trillion cubic feet from waters near Tanzania and the island nation of Madagascar — an area that the company hailed as possibly “one of the most important natural gas fields discovered in the last 10 years.”
Nearly 4 trillion cubic feet were in storage in the United States as of last week, according to the Energy Information Administration. The U.S. consumes about 2 trillion cubic feet of natural gas per month
Shares of Anadarko jumped 6.7% as energy stocks rallied amid a more than 300-point jump in the Dow Jones Industrial Average
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- Posted: 2011-11-28 12:01:20
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