Mozambique LNG project staring at more delays – 31 Aug 2021

Militancy had forced the LNG project in Mozambique, in which the Indian trio of BPCL, ONGC and OIL heavily invested, to halt work in April, 2021.

The expected delay at that time was one year

Now it has become one year to 18 months.

Already both ONGC and OIL paid a premium to take over stakes in project. That money looks like is stuck for now, and with the original project completion deadline of 2024, additional delays will mean that it will be a long time before a return on investment can come through