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Area 4 co-venture parties secure offtake commitments for the Rovuma LNG project

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LNG Industry,

ExxonMobil has announced that the Area 4 co-venture participants have secured LNG offtake commitments from affiliated buyer entities of the partners.

According to the statement, this marks a key milestone enabling the participants to move quickly towards a final investment decision (FID) this year on the first phase of the Rovuma LNG project. Area 4 participants include ExxonMobil, Eni, China National Petroleum Corp. (CNPC), Empresa Nacional de Hidrocarbonetos, Kogas and Galp.

These commitments are reportedly subject to the successful conclusion of fully-termed agreements, which will be finalised and initialled in the coming weeks, as well as the approval of the Government of Mozambique.

Peter Clarke, President of ExxonMobil Gas and Power Marketing Co., said: “The Rovuma LNG marketing team has worked at an accelerated pace to reach this important milestone, a tremendous achievement made possible by the strength of the Area 4 co-venture parties and the support of the government of Mozambique.”

Massimo Mantovani, Eni Chief Gas and LNG Marketing and Power Officer, added: “These commitments are an important step forward for the Rovuma LNG project and provide a solid foundation for securing project financing. This achievement highlights the strength of our partnership and commitment to developing Mozambique’s natural resources.”

In July last year, ExxonMobil claims that Mozambique Rovuma Venture submitted the development plan to the government of Mozambique for the first phase of the Rovuma LNG project. According to the statement, once complete, the project will produce, liquefy and sell natural gas from the Mamba fields, which are located in the Area 4 block in the Rovuma Basin offshore Mozambique. ExxonMobil claims that it will be responsible for leading the construction and operation of the liquefaction and related facilities on behalf of the Area 4 joint venture (JV), whilst Eni will be responsible for leading the construction and operation of upstream facilities.

In the statement, ExxonMobil also claims that the development plan for the first phase of the Rovuma LNG project specifies the proposed design and construction of two LNG trains, each of which will produce 7.6 million tpy of LNG. Mozambique Rovuma Venture is currently holding productive discussions with the Mozambican government on development plan details.

On top of generating government revenues, ExxonMobil claims that the proposed LNG project will also support long-term economic growth in Mozambique by developing the local workforce, building the capabilities of demand for local suppliers, and helping with community development efforts.

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