ONGC Videsh, a wholly owned\nsubsidiary of ONGC, the National Oil Company of India, has announced that Mozambique\nLNG1 Company, the jointly owned marketing entity of ONGC Videsh and\njoint venture partners of Mozambique Rovuma Offshore Area 1 project incorporated\nat Singapore, has entered into a long-term LNG Sale and Purchase Agreement\n(SPA) with <\/p>\n\n\n\n
a) Tokyo Gas and Centrica\nLNG Company, a subsidiary of Centrica through a co-purchasing\nagreement for the sale of 2.6 million tonnes per annum (MMTPA) from the\nstart-up of production until the early 2040s; <\/p>\n\n\n\n
b) CNOOC Gas and Power\nSingapore Trading & Marketing (CNOOC) for 1.5 MMTPA for a term of 13\nyears; c) Shell International Trading Middle East for 2 MMTPA for a\nterm of 13 years; <\/p>\n\n\n\n
d) Bharat Gas Resources, a\nwholly owned subsidiary of Bharat Petroleum Corp for 1 MMTPA for a\nterm of 15 years and <\/p>\n\n\n\n
e) Pertamina, a state owned\noil and gas company of Indonesia, for 1 MMTPA for a term of 20 years.<\/p>\n\n\n\n
These latest deals build upon\npreviously executed deals for long term offtake of LNG from Rovuma Offshore\nArea 1 project and take long-term sales to more than 9.5 MMTPA.<\/p>\n\n\n\n
Strategically located off the\nEast Coast of Africa, the Mozambique Rovuma Offshore Area 1 project is ONGC\nVidesh\u2019s key natural gas project. The project is progressing towards developing\ninitially an onshore LNG plant consisting of two LNG trains with total\nnameplate capacity of 12.88 MMTPA to support the development of the\nGolfinho-Atum field located entirely within Offshore Area 1. With the approval\nof the development plan in February 2018, ongoing resettlement implementation\nactivities, site preparation and execution of these SPAs, the project is poised\nto take FID in H1 2019.<\/p>\n\n\n\n
ONGC Videsh holds 16% interest in\nthe Mozambique Rovuma Area-1 Offshore Project out of which 10% PI is held\ndirectly by ONGC Videsh and another 6% interest is held through its 60%\nshareholding in \u2018Beas Rovuma Energy Mozambique Limited\u2019 (\u201cBREML\u201d) while the\nremaining 40% shares in BREML are held by Oil India Limited (‘OIL’). Anadarko\nMo\u00e7ambique \u00c1rea 1, Lda is the Operator of the project with 26.5% PI and the\nother partners are Mitsui E&P Mozambique Area1 Ltd. (20%), ENH (15%), BPRL\n(10%) and PTTEP (8.5%).<\/p>\n","protected":false},"excerpt":{"rendered":"