Oil India Expects $20B Mozambique LNG Project Restart by End 2025

India's state-run Oil India Ltd anticipates the $20 billion Mozambique LNG project, operated by TotalEnergies and in which it holds a stake, to restart development by the second half of 2025 following a suspension in 2021 due to a deadly Islamist insurgent attack. The project, valued for its 13.12 million tons per annum production capacity from the Rovuma Basin's Golfinho and Atum gas fields, is seen as crucial to meeting growing Indian gas demand. TotalEnergies, Mitsui & Co, Mozambique's ENH, and Indian state firms collectively hold stakes in the venture, which was halted amid security concerns but is poised to resume with improved conditions. Oil India chairman Ranjit Rath highlighted the project’s strategic importance and also noted the company's robust dividends from its Russian assets, with $942 million recovered representing over 91% of its investment and full recovery expected soon. The insurgency that delayed the project caused significant casualties and displacement but has since ebbed due to regional military support. Overall, Oil India reported record production outputs, underscoring its growing role in global energy markets.