Rovuma LNG Phase 1 Development Plan Submitted to Government of Mozambique
July 09 2018 - 2:00AM
Business Wire
- Two liquefied natural gas trains will
each produce 7.6 million tons per year
- LNG production expected to commence in
2024
- Marketing and financing negotiations
underway in parallel with government approval process
Mozambique Rovuma Venture has submitted the development plan to
the government for the first phase of the Rovuma LNG project, which
will produce, liquefy and market natural gas from the Mamba fields
located in the Area 4 block offshore Mozambique.
The plan details the proposed design and construction of two
liquefied natural gas trains which will each produce 7.6 million
tons of LNG per year.
ExxonMobil will lead construction and operation of natural gas
liquefaction and related facilities on behalf of the joint venture,
and Eni will lead construction and operation of upstream
facilities. As the Rovuma LNG project progresses, every effort will
be made to actively build the local workforce and supplier
capabilities in Mozambique.
“We are excited to be progressing the Rovuma LNG project,
working with the government and leveraging the expertise and
capabilities of all of the partners,” said Liam Mallon, president
of ExxonMobil Development Company.
“The Rovuma LNG Project is moving forward swiftly,” said Stefano
Maione, Eni’s executive vice-president for the Mozambique Program.
“The size of the project makes it not only an important investment
in the country, but also supports economic growth and opens new
opportunities for Mozambicans.”
A final investment decision by the Area 4 joint venture parties
is scheduled in 2019, with LNG production expected to commence in
2024. Marketing activities are progressing, with negotiations on
sales and purchase agreements underway, targeting completion in
parallel with the development plan approval process.
Rovuma LNG is operated by Mozambique Rovuma Venture S.p.A., an
incorporated joint venture owned by ExxonMobil, Eni and CNPC, which
holds a 70 percent interest in the Area 4 concession alongside its
partners Galp, KOGAS and Empresa Nacional de Hidrocarbonetos E.P.
(ENH), each of which hold a 10 percent interest.
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company, uses technology and innovation to help meet the world’s
growing energy needs. ExxonMobil is a global leader in LNG project
execution and holds an industry-leading inventory of resources, is
one of the largest refiners and marketers of petroleum products,
and its chemical company is one of the largest in the world. For
more information, visit www.exxonmobil.com or follow us on Twitter
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Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including project plans, timing
and capacities and execution of final sales and purchase
agreements, could differ materially due to market prices of oil and
natural gas and other economic conditions affecting the supply and
demand for LNG in relevant markets; the outcome of commercial
negotiations; actions of competitors; changes in political or
regulatory factors, including government approval of development
plans; unforeseen technical or operational factors; and other
factors cited under the caption “Factors Affecting Future Results”
on the Investors page of our website at www.exxonmobil.com.
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