Marking a step forward towards gas production from giant Mozambique gas fields, state-owned ONGC and its partners have been awarded contract for development of an onshore LNG terminal. Further, the operator of the block, US firm Anadarko Petroleum Corp has also announced the selection of a consortium consisting of CB&I, Chiyoda Corporation and Saipem (CCS JV) for the initial development of the onshore LNG park in Mozambique.
According to the plan, about 75 trillion cubic feet of natural gas reserves found in offshore Rovuma Area-1, whereby ONGC Videsh hold a total of 30% stake, will have to be converted into LNG for transportation by ships to consuming nations like India.
The onshore LNG park includes two LNG trains, each with capacity of 6 million tons per annum, which is 1 million tons per train higher over the original plan. According to the lay-out of the plan, the LNG park will include two storage tanks, each with capacity of 180,000 cubic meters, condensate storage, multi-berth marine jetty and associated utilities and infrastructure.
According to company’s estimates, around $18.4 billion will be required to bring first set of discoveries in Rovuma Area-1 on to production and convert that gas into liquid (liquefied natural gas or LNG) for ease of shipping to consuming nations like India.
ONGC is an Indian multinational oil and gas company headquartered in Dehradun, India. It is India’s largest oil and gas exploration and production company. It produces around 69% of India's crude oil (equivalent to around 30% of the country's total demand) and around 62% of its natural gas.
| Company Name | CMP |
|---|---|
| ONGC | 235.90 |
| Oil India | 469.45 |
| Jindal Drilling&Inds | 593.55 |
| Deep Industries | 669.80 |
| Asian Energy Service | 373.00 |
| View more.. | |
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