The Rovuma LNG liquefied natural gas (LNG), located in Area 4 of the Rovuma Basin in northern Mozambique and led by the U.S. oil company ExxonMobil, is nearing its Final Investment Decision (FID), scheduled for the second half of this year, and could generate up to $150 billion in revenue over three decades.
Speaking in Maputo during the 12th Mozambique Mining and Energy Conference and Exhibition (MMEC 2026), held in Maputo, Arne Gibbs, general manager of ExxonMobil Mozambique, stated that the company submitted a revised project development plan to the government in April, which calls for a modular approach aimed at increasing liquefied natural gas production capacity and improving operational efficiency.
According to Gibbs, the increase in scale will allow for higher production volumes without a proportional increase in costs, noting that Rovuma LNG could become the largest LNG project ever developed in Africa.
After two years of engineering work and technical review, Arne Gibbs, as quoted by Green Building Africa, said a new development concept had been introduced that is considered crucial to strengthening the project’s commercial viability.
Gibbs also argued that the economic benefits for Mozambique should begin even before gas production starts, through the collection of taxes and fees during the construction phase, as well as the national banking sector’s participation in financing the operations.
On November 20, 2025, ExxonMobil announced that it had lifted the “force majeure” declaration applied to the Rovuma LNG project, a necessary step for the FDI.
Also last year, President Daniel Chapo stated that the U.S. oil company should proceed with the FDI before July 2026, noting that, during talks held in Houston, it had become clear that TotalEnergies’ resumption of operations would facilitate ExxonMobil’s progress.
Security conditions in Cabo Delgado were cited by the oil company as a factor in resuming the process. CEO Darren Woods stated on October 31 that the situation had improved and that the consortium was working with TotalEnergies toward that end.
The Rovuma LNG project, valued at $30 billion (1.91 trillion meticais), is led by ExxonMobil, with Italy’s Eni overseeing the floating component (Coral North and Coral South). FDI is expected this year, with the export of the first gas shipment scheduled for 2030.
The concessionaires for Area 4 are Mozambique Rovuma Venture (MRV) S.p.A., a joint venture co-owned by Eni, ExxonMobil, and CNODC (70%), Empresa Nacional de Hidrocarbonetos E.P. (10%), Galp Energia Rovuma B. V. (10%), and KOGAS Moçambique Ltd. (10%).
Mozambique has three approved development projects for the exploitation of natural gas reserves in the Rovuma Basin, ranked among the largest in the world, all located off the coast of Cabo Delgado Province.
