(LiveMint)
State-run Bharat Petroleum Corporation Ltd (BPCL) will bring to India the much-awaited natural gas from its Rovuma basin in Mozambique in the next five years, said officials aware of the development. BPCL will bring in 1 million metric tonnes per annum (mmtpa) of gas from the Rovuma field where its upstream arm, Bharat Petro Resources Ltd (BPRL) holds 10% stake.
“BPCL will sign a sales and purchase agreement with Mozambique LNG1 Company to bring the gas to India. BPRL holds 10% stake in Mozambique LNG1 company which was formed to market the gas,” said a company official aware of the development. Mozambique LNG1 Company is owned by the Mozambique Offshore Area 1 partners.
The Offshore Area 1 is operated by Anadarko Mozambique Area with a 26.5% stake. Other partners include National Oil Company Empresa Nacional de Hidrocarbonetos (15%), Mitsui E&P Mozambique Area 1 (20%), ONGC Videsh (16%), Bharat PetroResources (10%), PTTEP Mozambique Area 1 (8.5%), and Oil India (4%).
