Mozambique’s government expects ExxonMobil to reach a final investment decision (FID) on its liquefied natural gas megaproject in Cabo Delgado by September, President Daniel Chapo said on Tuesday, 14 July, describing it as the largest private investment on the African continent.
‘We are making good progress with Exxon,’ the head of state said, speaking to Lusa before departing for Lisbon on the same day for a four-day official visit.
‘We are working so that, if all goes well, by September of this year, 2026, we can also sign the final investment decision. We are talking about the largest private investment project on the African continent, of around 20 billion dollars,’ he emphasised.
US oil major ExxonMobil leads the Rovuma LNG megaproject in Cabo Delgado, which envisages shared infrastructure with the neighbouring TotalEnergies megaproject, currently under construction.
On 26 January, at Afungi, during the ceremony marking the resumption of the TotalEnergies megaproject after nearly five years of suspension due to terrorist attacks, President Chapo indicated that the ExxonMobil megaproject could get under way within approximately one year.
ExxonMobil announced on 20 November last year that it had lifted its force majeure declaration on the Cabo Delgado natural gas megaproject — an essential step toward the FID, now targeted for September 2026.
The company had suspended the Rovuma LNG gas project, one of the largest in Africa, following terrorist attacks in Cabo Delgado in 2021.
Mozambique has three approved megaproject development plans for the exploitation of LNG reserves in the Rovuma Basin, classified among the largest in the world, located offshore Cabo Delgado.
ExxonMobil plans to produce 18 million tonnes per annum (mtpa) of LNG from Area 4. The Area 1 project, led by TotalEnergies and now back under way, is targeting LNG deliveries from 2029 with a capacity of 13 mtpa.
Adding to the basin’s output is Italian major Eni, which has been producing since 2022 via the Coral Sul floating platform. That capacity is set to double to 7 mtpa from 2028 with the second Coral Norte platform — a $7.2 billion investment whose FID was signed in October — alongside the prospect of a third unit being developed.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/07/15/oilgas/executivo-espera-decisao-final-de-investimento-da-exxonmobil-para-megaprojecto-de-gnl-em-setembro/
