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ExxonMobil to invest over US$500 million in Mozambique LNG project

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According to Reuters, ExxonMobil is planning to invest over US$500 million in the initial construction phase of its Mozambique LNG project.

The US$30 billion Rovuma LNG project has a capacity of over 15 million tpy, with a consortium between TechnipFMC, JGC Corp. and Fluor having recently been awarded the engineering, procurement and construction (EPC) contract.

During a ceremony held in Maputo, Mozambique, on Tuesday, Exxon head of power and gas marketing, Peter Clarke, reportedly said: “The Area 4 partners will advance midstream and upstream area project activities of more than US$500 million as initial investments.

“These EPC contracts cover the construction of two natural gas production trains with a total capacity of 15.2 million tpy, as well as associated onshore facilities.”

According to Reuters, Clarke went on to say that final investment decisions (FIDs) would be made next year.

Read the article online at: https://www.lngindustry.com/liquefaction/09102019/exxonmobil-to-invest-over-us500-million-in-mozambique-lng-project/

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