In a significant diplomatic engagement on the sidelines of the 10th Vibrant Gujarat Global Summit 2024, Secretary of the Ministry of Petroleum and Natural Gas (MoPNG), Sh. Pankaj Jain, met with H.E. Filipe Jacinto Nyusi, the President of the Republic of Mozambique. The meeting focused on crucial discussions regarding the status and plans for the restart of the Area-1 LNG project, a key venture that holds substantial significance for both nations.
The discussions underscored the commitment of both India and Mozambique towards enhancing their strategic partnership, especially in the energy sector. A pivotal point of the conversation was the Area-1 LNG project, which has seen significant investments from Indian Public Sector Undertakings (PSUs), totaling over US $9 billion. This massive investment represents the largest single asset investment made by Indian PSUs on a global scale.
The Area-1 LNG project holds immense potential for both countries, contributing not only to energy security but also fostering economic growth and cooperation. The discussions touched upon the current status of the project and outlined plans for its revival, addressing potential challenges, particularly in the realm of security.
President Filipe Jacinto Nyusi reiterated his strong support for the early revival of the Area-1 LNG project, recognizing its pivotal role in the economic landscape of Mozambique. The commitment from both sides to navigate security challenges demonstrates the collaborative spirit that underpins this bilateral venture.
The engagement between Secretary Pankaj Jain and President Nyusi reflects the diplomatic efforts to strengthen ties and overcome hurdles in the joint pursuit of energy and economic prosperity. The Area-1 LNG project stands as a testament to the robust collaboration between India and Mozambique, showcasing the effectiveness of Indian PSUs in making substantial global investments.
As the Vibrant Gujarat Summit serves as a platform for fostering international partnerships and discussions, this meeting between Secretary Pankaj Jain and President Nyusi highlights the shared commitment towards realizing the full potential of the Area-1 LNG project. The ongoing collaboration signals a promising chapter in the diplomatic and economic relations between India and Mozambique, reinforcing the notion that energy cooperation remains a cornerstone for mutual growth and development.