ExxonMobil will invest $500 Million in the initial construction phase of the Mozambique LNG project. Exxon and Italy’s Eni plans to jointly operate the $30 billion Rovuma LNG project in Mozambique, which will be able to produce more than 15 million tons/year of LNG.
A consortium led by Japan’s JGC, UK firm TechnipFMC and US company Fluor Corp won the contract for constructing the offshore project, which covers two LNG trains with a combined capacity of 15.2 million tons/year. The head of power and gas marketing from ExxonMobil Peter Clarke said the final investment decisions (FID) would be made next year.
Exxon’s project, along with Total’s $20 billion, and Eni’s $8 billion projects will enable Mozambique to contribute to 10% of today’s global natural gas market. Mozambique is set to receive a massive amount of cash for these projects. Hence it can boost GDP growth by more than 5% and household per capita income by 50%, South Africa’s Standard Bank reported in March.
