India's energy security is greatly enhanced by the Rovuma Area-1 LNG Project in Mozambique's Cabo Delgado province, where three Indian PSUs have a 30 per cent stake. The project is part of India's strategy to diversify its oil & gas sources.
To reduce its dependence on imported natural gas, which accounts for half of its consumption, India is looking for new LNG suppliers and investing in Mozambique's LNG project.
Mozambique could become a key LNG supplier for India, matching Qatar's dominance in the market. Unlike the Middle East, Mozambique has a strategic position that provides India
with a secure source of natural gas.
Mozambique's closeness to India's west coast, which has the majority of LNG terminals, makes the project more important for logistical reasons. It is a highly productive gas resource.
It can be transported from there to India in just three days. This will boost the LNG supply in the country significantly and immediately, once the output starts, said a person
associated with the project.
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