Oil and Natural Gas Corporation (ONGC), through ONGC Videsh Ltd, is eyeing for 20 per cent stake in the Mozambique gas field, according to a top executive.
Speaking at the MoU signing ceremony for an LNG re-gasification terminal in Mangalore on Monday, Sudhir Vasudeva, Chairman, ONGC, said the other consortium partners for Mangalore LNG terminal such as BPCL and the Japanese partner Mitsui have 10 per cent and 20 per cent stakes, respectively, in the Mozambique assets.
An additional 20 per cent by, which ONGC is eyeing for, will provide a controlling stake for the consortium in the LNG assets.
He said the re-gasification LNG terminal project at Mangalore can achieve its projected goal with the respective and complementing strengths of ONGC and other consortium partners such as BPCL, Mitsui and New Mangalore Port Trust.
In its perspective plan 2030, ONGC hopes to have 30 per cent of its revenue from the downstream segments of hydrocarbon value chain. vinayak.aj@thehindu.co.in