Government-owned oil exploration and marketing companies would invest another $6 billion (Rs 38,000 crore) in Mozambique with the first shipment of liquefied natural gas (LNG) from Rovuma Area-1 located along the coasts of northern Mozambique and southern Tanzania in the Indian Ocean being targeted for 2018-2019, Minister of Petroleum and Natural Gas Dharmendra Pradhan said.
An estimated $18.4 billion is required to bring the first set of discoveries in Rovuma Area-1 to production and convert that gas into LNG for ease of shipping to consuming nations like India.
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