- Global Markets: LNG Buyers in Asia Look to Resell Supply
- Global Oil & Gas: EU Rules on Methane Curbs May Boost LNG Industry - Exxon
- Global Oil & Gas: Venture Global Accused of Reneging on LNG Contracts for Europe
- Global Oil & Gas: Oil Unchanged as Market Struggles for Direction
- Energy Transition: Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’
ONGC Videsh (OVL), which holds a small stake in Anadarko-operated giant gas field off Mozambique, is reportedly in negotiations with the consortium to buy liquefied natural gas.
“Price is about $13-14 (per unit) as per the consortium’s pricing formula. About $1 would be additional cost for transportation etc,” The Economic Times cited OVL‘s managing director SP Garg as saying.
ONGC Videsh has a 16% stake in the Rovuma Area-1 project in Mozambique, which has the potential to become one of the world’s largest LNG producing hubs and is strategically located to supply LNG to the growing Indian gas market.
Area 1 covers approximately 2.6 million acres in the deep-water Rovuma Basin, and represents the largest natural gas discoveries in offshore East Africa with estimated recoverable resources of 45 to 70 trillion cubic feet.
LNG World News Staff, April 7, 2014; Image: Anadarko