New Delhi: ONGC and its joint venture partners have struck long-term agreements to sell 9.5 million tonnes a year of liquefied natural gas (LNG) from their Mozambique Rovuma Offshore Area 1 project, and will take a final investment decision for the project in the first half of 2019, the state-run explorer said in a statement.
Indian companies together own 30% participating interest in the Mozambique project, with ONGC owning 16%, Oil IndiaNSE 0.92 % 4% and Bharat PetroleumNSE -0.70 % 10%. Anadarko is the operator of the project with 26.5% participating interest.
“The project is progressing towards developing initially an onshore LNG plant consisting of two LNG trains with total nameplate capacity of 12.88 millionmetric tonnes per annum (MMTPA) to support the development of the Golfinho-Atum field located entirely within Offshore Area 1,” ONGC Videsh, the overseas arm of the state explorer, said in a
