![\"Mozambique](\"https:\/\/static.toiimg.com\/thumb\/msid-130912330,imgsize-63040,width-400,height-225,resizemode-4\/bpcl-says-no-payments-pending-for-russian-oil-imports.jpg\" "\\"BPCL")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nNew Delhi: Bharat Petroleum Corporation Ltd (BPCL) on Thursday said the Mozambique LNG project has achieved 42% completion following resumption of work after force majeure condition was lifted in Nov 2025.Located in Offshore Area 1 Concession in Mozambique and operated by French energy giant TotalEnergies, an investment of around $20 billion is estimated for the project. BPCL, through its subsidiary Bharat PetroResources Ltd, holds a 10% stake in it, while two other Indian PSUs — ONGC Videsh Ltd and Oil India Ltd — own 16% and 4%, respectively. The project was suspended in April 2021 following attacks by Islamic State terrorists, leading to declaration of force majeure.The company, in a statement, said the project remains on track and is expected to strengthen global LNG supply and support India\u2019s long-term energy security goals amid continued geopolitical uncertainties due to West Asia war and disruptions in energy flows following closure of Strait of Hormuz. Recent developments have impacted production across key regions and disrupted critical energy corridors, underscoring the need for diversified and resilient energy sourcing.India consumed nearly 69.7 billion cubic metres (BCM) of natural gas in 2025-26, of which more than 35.3 BCM was imported, taking the country\u2019s import dependency to 50.7%.BPCL said more than 6,000 workers are currently deployed on the project. Area 1 contains more than 75 trillion cubic feet of gas resources.\u201cDiversification of supply sources and the strengthening of global partnerships remain central to BPCL\u2019s long-term strategy, aligned with India\u2019s vision of transitioning towards a gas-based economy,\u201d said VRK Gupta, director (finance), BPCL.<\/div>\n<\/div>\n