ONGC Videsh Ltd., along with its Indian and foreign partners, has announced that it will invest around $20 billion to construct a gas liquefaction and export terminal in the African nation of Mozambique. This is an effort to monetise the offshore natural gas reserves that they have discovered in the country.
Oil and Natural Gas Corp (ONGC), Bharat Petroleum Corp Ltd (BPCL) and Oil India Ltd (OIL) on Wednesday filed exchange disclosures that said their subsidiaries, along with US-based Anadarko Petroleum, have taken a final investment decision (FID) for Area-1 of the Mozambique LNG project.
This will consist of two LNG trains with a total nameplate capacity of 12.88 million tonnes per annum, with feedgas coming from the Golfinho/Atum field in Offshore Area 1. Read more