Diplomacyindia.com

India to invest $6 bn more in Mozambique gas block : Pradhan

India to invest $6 bn more in Mozambique gas block : Pradhan
April 13
17:58 2015

New Delhi, April 13 In addition to the $6 billion already invested, Indian oil companies are slated to invest another $6 billion in stages by 2019 in Mozambique’s Rovuma Area 1 offshore block, Petroleum Minister Dharmendra Pradhan said on Monday.

“In Mozambique, where I have just concluded my official visit, we have invested more than $6 billion. Another $6 billion will be invested to develop Rovuma Area 1 field,” Pradhan told reporters here.

State-run ONGC Videsh Ltd., Oil India and Bharat Petroleum Corp have bought 30 percent stake in this Mozambique gas block and will also participate in the LNG project.

“The early monetisation of Rovuma Area 1 in offshore is a priority. But we must also respect the sovereign laws and rules of that country,” he added.

Describing Mozambique, situated on the eastern coast of Africa, as an important destination from the standpoint of India’s energy security, the oil minister said a joint working group, which was decided to be set up in November 2014, met in Mozambique during his visit.

“In August, a high-level delegation from Mozambique’s oil and gas sector will come to India, which signifies the close ties,” he said.

On liquefied natural gas (LNG) imports from Mozambique, Pradhan said the first shipments are expected to come by 2019, and the operator consortium has already begun talks with Indian utilities like GAIL regarding supplies.

During his official visit on April 9-10, besides meeting Minister of Mineral Resources and Energy Pedro Couto, Pradhan also met Foreign Minister Oldemiro Baloi and called on Prime Minister Agostino Rosario.

Mozambique plans to produce 34 million tonnes of liquefied natural gas annually from its biggest gas field.

Ten LNG terminals are likely to be set up, each with a yearly capacity of five million tonnes of gas.

US-based Anadarko Petroleum Corp is the Rovuma 1 project operator. Other partners include Empresa Nacional de Hidrocarbonetos EP of Mozambique, Mitsui of Japan and PTT Exploration and Production of Thailand.

India currently has 18,000 MW of power-genration capacity lying idle due to shortage of gas, with another 10,000 MW in the pipeline awaiting commissioning.

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

<

On the Eve of 30th Years of Independence of Republic of Uzbekistan, H.E. Dilshod Akhatov, Ambassador of Uzbekistan to India in conversation with Ameya Sathaye, Editor-in-Chief.

Denmark Ambassador to India Freddy Svane in conversation with Amb Pradeep Kapur & Ameya Sathaye, Editor-in-Chief

Italy india will work closely together for G20 : Italy Envoy to India

Do you know why FINLAND is ranked number ONE in Happiness index, watch this interview with Finland Ambassador to India

Exclusive Interview : H.E. Jasem Ibrahem Al Najem Ambassador of Kuwait to India speaks on India Kuwait bilateral relations

ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा 0 comment Read Full Article

H.E. Reuben Gauci, Ambassador of Malta to India speaks on India-Malta Bilateral Relations

Portugal supports India in covid crisis : Portugal Ambassador Carlos Pereira Marques speaks with Ameya Sathaye, Editor-in-Chief

Vietnam Ambassador to India, Pham Sanh Chau speaks on Vietnam support to India in tackling covid crisis

Netherlands supports India in covid crisis : Netherlands Ambassador Marten van den Berg speaks with Ameya Sathaye

Envoy Speaks : Gopal Baglay, Indian High Commissioner to Sri Lanka speaks on Bilateral relations, business opportunities, Tourism & people to people to people contacts

Kuwait reciprocates, we stand with India in this hour of crisis : Kuwait Ambassador to India

Canadian High Commissioner, Nadir Patel speaking on support to India in covid crisis

Italian Ambassador to India, Vincenzo de Luca speaking on Italy support to India in covid crisis

H.E. Mr. Reuben Gauci, Malta High Commissioner to India speaks with Ameya Sathaye, Editor-in-Chief of Malta support to India in covid crisis

Danish Ambassador to India Freddy Svane speaking on Denmark aid to India

Video Interview with Vinod Daniel, CEO, India Vision Institute, Board Member, International Council of Museums & Chairman, Ausheritage

DENMARK AMBASSADOR FREDDY SAVNE VISIT TO CORONOVIRUS VACCINE FACILITY AT HYDERABAD, A TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVT OF INDIA FOR FOREIGN ENVOYS BASED IN INDIA.

MALTA HIGH COMMISSIONER TO INDIA, H.E. REUBEN GAUCI SHARING HIS IMPRESSION ABOUT HIS VISIT TO HYDERABAD : TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVERNMENT OF INDIA FOR ENVOYS BASED IN INDIA TO UPDATE ON CORONAVIRUS VACCINE

H.E. Mr. Dinesh Bhatia, Ambassador of India to Argentina in conversation with Ameya Sathaye, Editor-in-Chief

Pictures of Formal Launch of Website Diplomacyindia.com

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com

WP2Social Auto Publish Powered By : XYZScripts.com