Exxon to sign $33bn LNG deal in Mozambique

Exxon to sign $33bn LNG deal in Mozambique

American oil giant, Exxon Mobil, is about to sign an initial investment decision for a liquefied natural gas (LNG) project worth around $33bn with the government of Mozambique, the biggest project yet of its kind in Africa.
The gas liquification and export project in the northern Cabo Delgado province will produce 15.2-million tonnes per year, and is even bigger than the one that Total is building nearby. Both will transform Mozambique’s $15bn economy.

“We look forward to progressing the Rovuma LNG project and working with the government to maximise the long-term benefits that this project will bring,” a spokesman for Exxon said.

The investment decision could boost President Filipe Nyusi’s chances in general elections scheduled next week. A promise to develop the country’s natural gas industry has formed a big part of Nyusi’s campaign.

Local News