Mozambique gas project of OVL, OIL ties up $14.9 billion debt for LNG project financing
New Delhi: Indian state-owned energy firms OVL and OIL and their foreign partners have secured $14.9 billion debt to part-finance their $24.1 billion liquefied natural gas (LNG) project in Mozambique. Led by French energy giant Total, the project envisages producing 12.88 million tonnes per annum of LNG from gas discovered in Area-1, offshore Mozambique.
“Oil India NSE 1.02 % Ltd, a national oil company of India, announces that Rovuma Offshore Area 1 consortium (Area-1), led by Total confirms, the finalization of the Mozambique LNG senior debt financing of $14.9 billion for the two train LNG project on July 15, 2020,” the company said in a regulatory filing on Thursday.
