Comments
Mozambique, which has been firmly put on the global hydrocarbon map due to huge discoveries in its Rovuma offshore basin, is looking to export gas within the next six years.
Speaking on the sidelines of Petrotech 2012, Abdul Razak Noormahomed, Vice-Minister of Mineral Resources, Mozambique, confirmed that the country is looking to set up the liquefied natural gas (LNG) plant by 2018.
The country plans to set up two LNG trains which would entail an investment in the range of $18-$20 billion.
The Vice-Minister mentioned that Mozambique was seeing interest for participation in its hydrocarbon blocks from global players.
Rovuma basin block
Two Indian companies — BPCL and Videocon — through a joint venture have 10 per cent stake each in the Rovuma basin block.
On Monday, R.K. Singh, Chairman and Managing Director, BPCL, had reiterated that his company did not intend to sell its stake in the block.
There have been rumours that Videocon intends to sell its stake.
Earlier this year, Cove Energy, one of the partners in the Rovuma block had sold its 8.5 per cent stake in the venture for $1.9 billion.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.