Mozambique’s $20 Billion LNG Project Set for Major Restart After Years of Delays
India’s state-run Oil India Ltd expects the $20-billion TotalEnergies-operated Mozambique liquefied natural gas project to restart development by the end of this year, following years of suspension due to security concerns.
The massive project, which was halted in 2021 after TotalEnergies imposed force majeure following a deadly attack by Islamic State-linked insurgents, is now poised for a dramatic comeback. Oil India chairman Ranjit Rath announced that 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.
TotalEnergies serves as the project operator with a 26.5% stake, followed by Mitsui & Co with 20%, while Mozambique’s state-owned ENH holds 15%. Indian state firms ONGC Videsh, Bharat PetroResources and Oil India together hold 30% in the project, with Thailand’s PTTEP owning the remainder.
The restart of this mega-project represents a significant boost to both Mozambique’s economy and the global LNG market, potentially adding substantial supply capacity to meet increasing global energy demands.
Source: reuters.com
