ONGC Videsh Puts Mozambique LNG Project On Hold

ONGC Videsh consortium has put its liquified natural gas (LNG) project in Mozambique on hold due to force majeure.

State-owned ONGC Videsh consortium has put its liquified natural gas (LNG) project in Mozambique on hold due to force majeure, arising out of the escalating security situation in that country. "Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, the Area 1 Operator Total E&P Mozambique Area 1 Limitada informed the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation leads Total E&P Mozambique Area 1 Limitada, as operator of Mozambique LNG project, to declare force majeure," ONGC said in a statement. ONGC Videsh, which is the overseas arm of the Maharatna oil explorer ONGC, holds 16 per cent participating interest in the Area 1 concession through its subsidiaries ONGC Videsh Rovuma (OVRL) and Beas Rovuma Energy Mozambique (BREML).