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Mozambique claims Exxon will finalise LNG investment this week

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LNG Industry,

According to Reuters, the government of Mozambique has released a statement via state television, claiming that ExxonMobil will finalise its investment in the country’s LNG fields in a signing ceremony on 8 October 2019.

Reuters reports that Exxon’s Rovuma LNG project will produce, liquefy and sell gas from three reservoirs located in the Area 4 block offshore Mozambique’s northern coast. The project is jointly operated with Italy’s Eni.

According to Reuters, Exxon estimates that the fields will cost approximately US$30 billion to develop. They are scheduled to come online in 2024.

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