As part of its broader plan for its Rovuma LNG project, ExxonMobil has earmarked USD 4 billion for local content, according to Álvaro Massingue, president of Mozambique’s Confederation of Economic Associations (CTA). This comes after ExxonMobil officially awarded USD 1.1 billion in contracts to a variety of firms for upstream equipment and early construction activities just last […]
Mozambique’s National Hydrocarbons Company (ENH) needs US$150 million to build gas transportation, storage and regasification infrastructure between Beira and Inhassoro, the president of the state-owned company said on Saturday.
McDermott and Saipem, through their SMDC joint venture, have received a letter of intent from ExxonMobil for limited preliminary engineering and procurement services supporting the Rovuma LNG Phase 1 development in Mozambique’s Area 4 block, the companies said on Thursday.
The Mozambique LNG project is a landmark development in the country’s emerging natural gas sector, aiming to monetise significant offshore gas reserves discovered in Area 1 of the Rovuma Basin.
TotalEnergies SE needs Mozambique’s approval for a $4.5 billion increase in cost to its liquefied natural gas project before restarting construction that’s been delayed since 2021 due to security issues.
The agreement lays out areas of common interest in hydrocarbons exploration and production, with extensions for transportation, downstream activities and the provision of associated services along the energy value chain.
Exxon has asked for security guarantees for its Rovuma LNG project from Mozambique’s government, the Financial Times reported, citing unnamed sources, who said the discussions were directly with the president of Mozambique, Daniel Chapo.
Mozambican President Filipe Jacinto Nyusi talks to The Energy Year about banking on natural gas as a transition energy source, collaborating with international financial institutions on infrastructure development and ushering in unprecedented investments in the Mozambican economy.
Mozambican President Daniel Chapo said his government and private companies will have to collectively ensure the necessary security is in place to enable TotalEnergies to restart construction of a $20 billion gas project that has stalled due to a militant insurgency — and even then risks will remain.
Meanwhile, one of the funders of the project, the UK government, was earlier this year reported to be looking for a way to get out of its investment commitment, in line with its net-zero policies. Earlier this week, the Financial Times reported that the UK Export Finance agency had commissioned a human right review for the project on allegations of abuse, made by Mozambican soldiers that were deployed to protect the facility.