Exxon to announce financial close of its Mozambican LNG project

In Mozambique, state TV, TVM, has announced that the US energy giant Exxon Mobil will announce the financial closure of its offshore gas project. The project consists of the installation of a liquefaction plant of 3.4 Mtpa, the second in the country after Mozambique LNG.

An official ceremony will take place Tuesday in the capital, Maputo, and will see the signing of an official document between Exxon Mobil, its partners Eni, CNPC, and the public company hydrocarbons (ENH). All these stakeholders are united in the Mozambique Rovuma Venture Consortium (MRV).

Production operations will start in 2024, with a total investment of $ 30 billion. In addition to LNG, Zone 4 will produce 17,000 tonnes of liquefied petroleum gas (LPG) per year during the production phase which is expected to last 30 years.

The gas fields are located off the coast of the northern province of Cabo Delgado, which during the past two years has been the scene of attacks by Muslim extremists in Al Shabab. The group says it wants to prevent the installation of a liquefaction plant in the region.

MRV is a consortium consisting of the joint venture Exxon-Eni-CNPC (70%) with operator status and Galp, KOGAS and ENH each having a 10% interest.

 

Source: Agence Ecofin

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