A key milestone enabling the Area 4 co-venture participants to rapidly move toward a final investment decision in 2019 on the first phase of the Rovuma LNG project has been reached.
The participants have secured LNG offtake commitments from affiliated buyer entities of the partners. Area 4 participants are ExxonMobil, Eni, China National Petroleum Corporation (CNPC), Empresa Nacional de Hidrocarbonetos, Kogas and Galp.
Those commitments are subject to the conclusion of fully-termed agreements, which will be finalised and initialed in the next weeks, and the approval of the government of Mozambique.
In July 2018, Mozambique Rovuma Venture submitted the development plan to the government of Mozambique for the first phase of the Rovuma LNG project. The project will produce, liquefy and market natural gas from the Mamba fields located in the Area 4 block in the Rovuma Basin offshore Mozambique. ExxonMobil will lead construction and operation of natural gas liquefaction and related facilities on behalf of the Area 4 joint venture, and Eni will lead construction and operation of upstream facilities.
The development plan for the first phase of the Rovuma LNG project specifies the proposed design and construction of two liquefied natural gas trains, which will each produce 7.6 million tonnes of LNG per year. Mozambique Rovuma Venture is currently holding productive discussions with the Mozambican government on development plan details.
In addition to generating government revenues, the proposed Rovuma LNG project will support long-term economic growth in Mozambique by developing the local workforce, building the capabilities of and demand for local suppliers, and assisting with community development efforts.
Mozambique Rovuma Venture S.p.A., an incorporated joint venture owned by ExxonMobil, Eni and CNPC, holds a 70 percent participation interest in the Area 4 exploration and production concession contract alongside Empresa Nacional de Hidrocarbonetos, Galp and Kogas, each of which hold a 10 percent interest.
For more information visit www.exxonmobil.com
3rd January 2019