Mozambique LNG Project: Force Majeure Lifted, Construction to Resume

The force majeure on Mozambique's LNG project has ended, enabling construction to resume. Indian firms hold a 30% stake in this $21 billion project. Improved security in Cabo Delgado Province allows the consortium, led by TotalEnergies, to plan LNG deliveries by 2029.

The 53-month-long force majeure affecting Mozambique's massive LNG project has been lifted. This $21 billion initiative includes a 30% stake held by Indian companies, marking a significant development for ONGC Videsh Ltd and its partners.

TotalEnergies, the project operator, along with its consortium, ended the force majeure due to improved security in Mozambique's Cabo Delgado Province. This decision revives the much-anticipated LNG project, with the first deliveries projected by 2029.

The end of the force majeure allows for the resumption of construction activities. The project, which began in 2019, is crucial as it targets the development of significant gas resources in Offshore Area 1, comprising over 75 trillion cubic feet. This marks a pivotal step in exploiting Mozambique's natural gas potential, aiming for early project completion.

(With inputs from agencies.)