Mozambique gas project of OVL, OIL ties up $14.9 billion debt
Indian state-owned energy firms OVL and OIL and their foreign partners have secured USD 14.9 billion debt to part-finance their USD 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 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 USD 14.9 billion for the two train LNG project on July 15, 2020,” the company said in a regulatory filing on Thursday.
