Thai state-controlled upstream firm PTTEP's tussle with Shell for east Africafocused independent Cove Energy aims to satisfy Thailand's future demand for LNG, as well as continue the company's growing diversification outside of Asia. PTTEP is offering ?1.22bn ($1.93bn) for UK-listed Cove, as it continues to outbid Shell since making its original offer in February. Both firms are vying for Cove's 8.5pc stake in Rovuma area 1 offshore Mozambique, where operator US independent Anadarko estimates that there is enough gas to support up to 50mn t/yr of LNG capacity (WPA, 8 June, p6).
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