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

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LNG Industry,

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.

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