ExxonMobil intends to proceed with the Final Investment Decision (FID) for the Rovuma LNG project in the Rovuma Basin, Cabo Delgado, before the end of this year. The plan was discussed on Tuesday, 11 August, during a meeting between President Daniel Francisco Chapo and ExxonMobil’s President of Upstream, Dan Ammann, in Maputo.
According to a statement from the Presidency of the Republic, the meeting focused on the next steps toward realising the natural gas project, with particular attention to the possibility of the multinational taking the Final Investment Decision still in 2026.
At the conclusion of the meeting, ExxonMobil’s country president for Mozambique, Johanna Boothey, who was part of the company’s delegation, described the encounter as “very productive” and highlighted the discussions between Dan Ammann and the head of state on the project’s advancement.
“It was a very productive meeting, where we discussed how we are going to move forward with the Rovuma project to have a Final Investment Decision this year,” Boothey said.
Beyond the FID, the parties discussed the potential benefits of executing Rovuma LNG for Mozambique, including job creation, social development, and increased government revenues.
According to the ExxonMobil executive, the meeting also provided an opportunity to address the wider opportunities that could result from the implementation of the megaproject.
“It was a very productive discussion about the benefits of this megaproject for Mozambique, in terms of employment opportunities, the social projects that will be undertaken, and all the benefits that will come in terms of additional revenues for Mozambique,” she stated.
Rovuma LNG envisages the production, liquefaction, and export of natural gas from the offshore Area 4 resources of the Rovuma Basin, off the coast of Cabo Delgado province. The project represents one of the principal initiatives for harnessing the region’s substantial natural gas reserves.
ExxonMobil Mozambique will lead the future operation of the Rovuma LNG facilities. The project’s realisation depends on a series of technical, commercial, and financial milestones, among them the Final Investment Decision, which the company expects to take before the year is out.
A positive FID would clear the way for project execution, with prospects for the mobilisation of investment, job creation, social infrastructure development, and the generation of additional revenue streams for Mozambique.
The meeting between President Daniel Chapo and ExxonMobil’s leadership comes at a moment considered pivotal for the future of Rovuma LNG, as the multinational signals its intention to take a decision this year that could determine the project’s transition to a new phase of development.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=529533
