National
Companies sign deal to sell 8.1 mtpa LNG from Mozambique block- ONGC
Indian explorer Oil and Natural Gas Corp on Tuesday said partners operating a massive offshore block in Mozambique’s Rovuma basin, called Area 1, have signed deals to sell 8.1 million tonnes per annum (mtpa) of liquefied natural gas (LNG)
* Tokyo Gas and Centrica LNG Co Ltd, a subsidiary of Centrica Plc have jointly signed a deal to buy 2.6 mtpa LNG from the start-up of production until early 2040s, ONGC said in statement
* ONGC said 13-year deals have been signed with trading units of CNOOC and France’s Shell to sell 1.5 mtpa and 2 mtpa of LNG, respectively
* A unit of Indian refiner Bharat Petroleum Corp Ltd and Indonesia’s Pertamina will buy 1 mtpa LNG each for 15 years and 20 years, respectively
* Anadarko is the operator of the block with a 26.5 percent stake while a consortium of Indian companies – ONGC through its overseas arm ONGC Videsh Ltd, Oil India Ltd and BPCL – holds a 30 percent stake in the block
The consortium partners have so far signed long-term deals to sell 9.5 mtpa LNG from the block, said ONGC.
