{"id":15504,"date":"2025-09-19T07:52:23","date_gmt":"2025-09-19T07:52:23","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=15504"},"modified":"2025-09-19T07:52:23","modified_gmt":"2025-09-19T07:52:23","slug":"oil-india-sees-restart-of-mozambique-lng-project-by-years-end","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/15504\/","title":{"rendered":"Oil India sees restart of Mozambique LNG project by year’s end"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0India’s state-run Oil India Ltd expects a $20-billion, TotalEnergies-operated Mozambique liquefied natural gas project in which it owns a stake to restart development by the end of this year, its chairman Ranjit Rath said on Thursday.<\/p>\n

TotalEnergies halted construction of the project and imposed force majeure in 2021 following a deadly attack on the site by Islamic State-linked insurgents.<\/div>\n

“With improved security conditions, the project is expected to restart in the second half of 2025 and is well-positioned to meet the growing demand of the Indian gas market,” Rath said at its annual shareholder meet.<\/p>\n

TotalEnergies CEO Patrick Pouyanne said in June he expected development to resume “this summer”.<\/div>\n
TotalEnergies is the project operator with a 26.5% stake, followed by Mitsui & Co with 20%, while Mozambique’s state-owned ENH has 15%.<\/div>\n
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Indian state firms ONGC Videsh, Bharat PetroResources and Oil India together hold 30% in the project, with Thailand’s PTTEP owning the remainder.<\/div>\n

Explorer Oil India also holds a minority stake in the Vankorneft and Taas-Yuryakh projects in Russia.<\/p>\n

Rath said Oil India has received dividends equivalent to 91% of its investment in the Russian projects.<\/p>\n

“A highlight of the year was the robust dividend flow from Russian assets, amounting to $942 million, representing over 91% of our original investment in Vankorneft and Taas-Yuryakh, with full recovery expected in the coming year,” he said.<\/p>\n

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