ExxonMobil on Friday shared progress made on the Rovuma LNG project in the Rovuma Basin, in Cabo Delgado province, which is expected to reach a final investment decision (FID) later this year.
The update was provided to the President of the Republic, Daniel Chapo, during an audience granted to ExxonMobil Mozambique’s newly appointed Managing Director, Johanna Boothey, who highlighted the multinational’s commitment to continuing to work closely with the government on the implementation of what is regarded as one of the world’s largest liquefied natural gas projects.
In addition to its strategic importance, Rovuma LNG is considered one of the most ambitious projects for Mozambique’s economy over the coming decades.
According to ExxonMobil’s latest projections, the project could generate up to US$150 billion in revenue for the Mozambican state over a 30-year period, significantly increasing public revenues and driving the country’s economic and social development.
At the end of the meeting, Boothey said she had conveyed to the Head of State the company’s encouragement regarding the progress already achieved on the project, which is considered strategically important for both Mozambique and ExxonMobil and its partners.
She highlighted the cooperative relationship with the Mozambican government and reiterated the oil company’s commitment to continuing to work closely with the national authorities to ensure the project moves forward.
Recently, during the 12th Mozambique Mining and Energy Conference and Exhibition, held in Maputo, ExxonMobil Mozambique’s former Managing Director, Arne Gibbs, confirmed that the company submitted a new development plan for Rovuma LNG to the government in April this year, based on a revised and more efficient technical concept.
According to Gibbs, the new approach will allow for increased liquefied natural gas (LNG) production, benefiting from economies of scale and more competitive operating costs. He also reiterated that ExxonMobil remains on schedule to reach a final investment decision during the second half of this year.
ExxonMobil considers Rovuma LNG to be the largest project in Africa’s history, stressing that the revised technical concept represents a decisive shift following two years of engineering work, enabling the production of more LNG with greater efficiency and improved economic returns.
Also on Friday, President Chapo received the Secretary-General of the African Golf Confederation, Michael Aggrey, who expressed interest in establishing a strong partnership with Mozambique to develop sports tourism, with particular emphasis on Inhambane province.
Source: AIM
