Bloomberg/Andrew Harrer


Exxon's Mozambique LNG project plan gets approval

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The Rovuma liquefied natural gas (LNG) project is expected to provide up to 17,000 tonnes of liquefied petroleum gas per year in Mozambique from the Area 4 block.

Wednesday 15, May 2019 BY KUDAKWASHE MUZORIWA

Exxon Mobil said that its development plan for Rovuma LNG project in Mozambique has been approved by the country’s government, with the company’s final investment decision expected later this year.

Liam Mallon, the President of ExxonMobil Upstream Oil and Gas Company, said, “The development plan approval marks another significant step toward a final investment decision later this year.”

The Rovuma LNG project is expected to produce, liquefy and market natural gas from three reservoirs located in the Area 4 block offshore Mozambique.

The US oil giant stated that Area 4 is operated by Mozambique Rovuma Venture (MRV), an incorporated joint venture owned by ExxonMobil, Eni and CNPC, which holds a 70 per cent interest in the Area 4 exploration and production concession contract.

Additionally, Galp, KOGAS and Empresa Nacional de Hidrocarbonetos each hold a 10 per cent interest.

Exxon said that its sales and purchase agreements have been submitted for approval for total capacities of two LNG plants, which are expected to produce more than 15 million tonnes of LNG per year.

The project adds to the US oil giant’s slate of planned gas projects in the Middle East, Papua New Guinea as well as Russia and the US.

TAGS : Exxon Mobil, Rovuma LNG project, Eni, CNPC, Galp, KOGAS, Empresa Nacional de Hidrocarbonetos

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