India today signed a Memorandum of Understanding, MoU, with Mozambique for cooperation in the field of oil and gas. The MoU was signed in the presence of Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan in New Delhi. It seeks cooperation in the areas of upstream and downstream oil and gas sector. Participation of Indian energy companies in the project will facilitate access to Liquefied Natural Gas, LNG for the growing Indian gas market. Mozambique has emerged as a significant hydrocarbon rich nation following offshore gas discoveries in two adjacent offshore blocks. The country is strategically located near India and is ideally suited for bringing natural gas at market determined price.