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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 the early 2040s, ONGC said in the 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. 

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