Government Expects ExxonMobil to Make Final Investment Decision This Year

- The project is valued at around US$30 billion, making it the largest in the country

- Terrorist attacks remain the main threat behind the delay to the investment

By MOZTIMES

Maputo (MOZTIMES) – The Mozambican Government expects US oil company ExxonMobil to announce its final investment decision on the Rovuma LNG project in Cabo Delgado later this year, the spokesperson for the Council of Ministers, Salimo Valá, said on Tuesday in Chimoio.

ExxonMobil holds a concession to explore for natural gas in Area 4 of the Rovuma Basin and plans to build a liquefaction facility with a production capacity of 18.6 million tonnes of LNG per year. The project is valued at around US$30 billion.