Explore Business Standard
A 53-month-long force majeure at Mozambique's giant LNG project, where Indian firms hold a 30 per cent stake, has ended, enabling the start of work at the USD 21 billion project, ONGC Videsh Ltd said on Wednesday. Operator and French energy giant TotalEnergies and its partners lifted the force majeure on the project in Mozambique, which had been in place since mid-2021 due to deteriorating security in the northern Cabo Delgado Province of the African nation. TotalEnergies last week said the LNG deliveries can start by 2029. "Security situation in Cabo Delgado Province (CDP), north of Mozambique, Area 1 Mozambique LNG Project has significantly improved, and Area 1 Mozambique LNG consortium has accordingly notified the Government of Mozambique to end the Force Majeure which was declared on May 11, 2021," OVL said in a statement. "Withdrawal of the force majeure enables construction activities to restart for early completion of the project." ONGC Videsh Ltd, the overseas investment ar