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BPCL expects to get gas from Mozambique LNG project by 2029, says CMD
Bharat Petroleum Corporation Ltd (BPCL) expects receiving gas from the Mozambique project by early to mid-2029 if the liquefied natural gas (LNG) project resumes operations this calendar year, chairman and managing director G Krishnakumar has told Moneycontrol.
“There was a force majeure in Mozambique. We are hopeful that it will resume but the operator is also waiting Exim Bank loan to be sanctioned. So, once that is done, we are hopeful that this year (2025)— by the middle or end of this year—it will resume and gas will start coming by early or middle of 2029,” he said
Earlier this month, the CEO of TotalEnergies, the lead operator of the $20-billion project, said financing from the US Export-Import Bank (EXIM) Bank is expected to be approved soon, following which the force majeure on the LNG project would be lifted.
TotalEnergies halted the LNG project in 2021 following attacks by Islamic State terrorists.
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