Indian oil company BPCL, which has a 10% stake in the Mozambique LNG project led by French multinational Total Energies, has announced that its liquefied natural gas project could restart in the first half of next year.
“Now, thanks to the efforts of the Mozambican government, supported by a regional coalition, progress is being made in improving the security situation in the region, and the project will resume as soon as the security situation is stabilized in a sustainable manner”, BPCL director General, Arun Singh, said on August 29.
The director, who was speaking at the company’s annual general meeting, announced that BPCL is expected to invest an additional $1.8 billion over the next three to four years in Mozambique. BPCL has a 15-year purchase and sale contract for one million tonnes of LNG.
The project, which is implemented in the district of Palma, in the northern province of Cabo Delgado, was stopped in March last year following a terrorist attack on the city of Palma which caused the death dozens of people and forced thousands more to seek refuge in safer places. Locations. The attack prompted Total Energies to declare “force majeure“.
Since then, the Mozambican defense and security forces, with the support of their Rwandan allies, have reasserted government control over Palma and the neighboring district of Mocimboa da Praia.
The Mozambique LNG project involves the installation of a plant with an annual production capacity of 12.88 million metric tons of LNG per year.
Total Energies is the operator of the Mozambique LNG project, with a 26.5% stake. Its partners in the consortium are Mitsui of Japan, with 20%, the National Hydrocarbons Company (ENH) of Mozambique with 15%, PRTTEP of Thailand with 8.5%, and three Indian companies, ONGC Videsh Rovuma Limited, Beas Rovuma Energy Mozambique Limited, BPRL Ventures Mozambique, with 10% each.
BPRL Ventures Bharat Gas Resources Ltd. is a wholly owned subsidiary of India‘s Bharat Petroleum Corporation Ltd.