New Delhi: Bharat Petroleum Corporation Ltd (BPCL) on Thursday said the Mozambique LNG project has completed 42% after work is scheduled to resume in November 2025 after the force majeure situation is lifted.Located in the offshore Area 1 concession in Mozambique and operated by French energy giant TotalEnergies, the project is estimated to entail an investment of around $20 billion. BPCL, through its subsidiary Bharat Petroresources Limited, holds a 10% stake, while two other Indian PSUs – ONGC Videsh Limited and Oil India Limited – hold 16% and 4% respectively. The project was suspended following attacks by Islamic State militants in April 2021, leading to a declaration of force majeure.The company said in a statement that the project remains on track and is expected to strengthen global LNG supply and support India’s long-term energy security goals amid ongoing geopolitical uncertainties due to the Middle East war and disruption in energy flows following the closure of the Strait of Hormuz. Recent developments have impacted production in key sectors and disrupted critical energy corridors, underscoring the need for diverse and flexible energy sourcing.India is expected to consume about 69.7 billion cubic meters (bcm) of natural gas in 2025-26, of which over 35.3 bcm was imported, taking the country’s import dependence to 50.7%.BPCL said more than 6,000 workers are currently deployed on the project. Area 1 has over 75 trillion cubic feet of gas resources.BPCL Director (Finance) VRK Gupta said, “Diversification of supply sources and strengthening global partnerships is at the core of BPCL’s long-term strategy, which is in line with India’s vision of moving towards a gas-based economy.”
