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Exxon will not take FID on Mozambique LNG project this week

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LNG Industry,

According to Reuters, a source familiar with the matter has said that ExxonMobil will not take a final investment decision (FID) on its Mozambique LNG project when it attends an event there today.

On Sunday, the government of Mozambique said that the company would finalise the project at a signing ceremony in Maputo. However, the source has said that the company and its partners (Eni, Korea Gas Corp. and China National Petroleum Corp.) will simply announce a consortia of contractors for the project, allowing some of the construction work to commence.

According to Reuters, the unnamed source said: “The FID will be later, but it’s a step forward before the elections.

“I expect they will give a target (on FID timing) on Tuesday.”

In May, Exxon reportedly said that it would take FID later this year.

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