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Africa|Building|Energy|Export|Gas|LNG|PROJECT|Resources
Africa|Building|Energy|Export|Gas|LNG|PROJECT|Resources
africa|building|energy|export|gas|lng|project|resources

Mozambique says Exxon to approve giant LNG project

7th October 2019

By: Bloomberg

  

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Mozambique’s government said Exxon Mobil Corporation will sign off on an initial investment decision for a liquefied natural gas project that could cost as much as $33-billion to build – the biggest ever in Africa.

A ceremony marking the decision will take place October 8 in Maputo, the capital of the south-east African nation, the Ministry of Mineral Resources and Energy said in a statement Saturday.

Exxon’s project in the northern Cabo Delgado province will cost between $27-billion and $33-billion, according to a report that Johannesburg-based Standard Bank Group published in March. The 15.2-million-ton-a-year gas liquefaction and export project is even bigger than the one that Total is building nearby, and both will transform Mozambique’s $15-billion economy.

“We look forward to progressing the Rovuma LNG project and working with the government to maximize the long-term benefits that this project will bring,” a spokesperson for Exxon said in an emailed response to questions.

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

Edited by Bloomberg

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