Gas: ExxonMobil relies heavily on Mozambican LNG
After the launch in June of the gigantic Dolphin Tuna liquefied natural gas (LNG) project, led by the French Total, it is now the turn of the American Exxon Mobil to invest massively in the Mozambican gas sector.
In a statement relayed on Sunday by the public TVM, the country’s authorities announced that the American major will sign an investment agreement in Maputo on Tuesday, October 8, for the creation of Africa’s largest liquefied natural gas project, called Exxon Rovuma LNG. The signing ceremony will take place in the presence of the Mozambican Minister of Mineral Resources and Energy, Ernesto Max Tonela.
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Operated jointly with the Italian company Eni, the site will produce, liquefy and sell natural gas from three reservoirs located in Area 4 block, offshore Cabo Delgado province (northern Italy). An unusual project that, according to Exxon, should be operational by 2024, produce 15.2 million tonnes of liquefied gas per year and cost $30 billion. Double the GDP of this southern African country ($14.4 billion in 2018), today one of the poorest in the world ($420 GDP per capita) and which certainly expects a lot from this new gas sector.
