February 26, 2019 / 1:07 PM / 7 months ago

Companies sign deal to sell 8.1 mtpa LNG from Mozambique block- ONGC

NEW DELHI, Feb 26 (Reuters) -

* Indian explorer Oil and Natural Gas Corp on Tuesday said partners operating a massive offshore block in Mozambique’s Rovuma basin, called Area 1, have signed deals to sell 8.1 million tonnes per annum (mtpa) of liquefied natural gas (LNG)

* Tokyo Gas and Centrica LNG Co Ltd, a subsidiary of Centrica Plc have jointly signed a deal to buy 2.6 mtpa LNG from the start-up of production until early 2040s, ONGC said in statement

* ONGC said 13-year deals have been signed with trading units of CNOOC and France’s Shell to sell 1.5 mtpa and 2 mtpa of LNG, respectively

* A unit of Indian refiner Bharat Petroleum Corp Ltd and Indonesia’s Pertamina will buy 1 mtpa LNG each for 15 years and 20 years, respectively

* Anadarko is the operator of the block with a 26.5 percent stake while a consortium of Indian companies - ONGC through its overseas arm ONGC Videsh Ltd, Oil India Ltd and BPCL - holds a 30 percent stake in the block

* The consortium partners have so far signed long-term deals to sell 9.5 mtpa LNG from the block, said ONGC (Reporting by Nidhi Verma; editing by Emelia Sithole-Matarise)

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