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Exxon expects final investment decision for Mozambique LNG project in 2026
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Exxon expects final investment decision for Mozambique LNG project in 2026
Nov 9, 2024 11:30 AM

By Mrinalika Roy

Nov 6 (Reuters) - ExxonMobil ( XOM ) now expects a final

investment decision for its Rovuma liquefied natural gas (LNG)

project in Mozambique in 2026, the company said on Wednesday,

pushing back the financial go-ahead by roughly a quarter.

The company had said in May it expected the final investment

decision for the project at the end of 2025.

The company said it was making progress on the project,

despite the ongoing force majeure and expects first LNG by 2030.

"We will continue to work in close collaboration with the

Government of Mozambique and expect the security situation to

stabilize," a company spokesperson told Reuters.

ExxonMobil ( XOM ) and its partner Eni are developing the

Rovuma LNG project in offshore Area 4 in northern Mozambique,

and it is expected to produce 18 MTPA of LNG.

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