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Exxon considers lifting force majeure as security improves

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TotalEnergies lifted force majeure on nearby project last

week

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Mozambique could become top 10 global gas producer by

2040,

Deloitte reports

By Sheila Dang and Arunima Kumar

HOUSTON, Oct 31 (Reuters) - Exxon Mobil ( XOM ) is

looking at lifting force majeure on a $30 billion liquefied

natural gas project in Mozambique as security conditions in the

country improve, CEO Darren Woods told investors on Friday

during an earnings call.

"Total just lifted their force majeure, and we're looking

at, and are in the process of, trying to do the same," Woods

said, referring to the French energy firm that is developing a

related - but distinct - project nearby.

Reuters reported earlier this week that Exxon was unable to

make a final investment decision on its project, called Rovuma

LNG, until TotalEnergies resumes work after it lifted

a separate force majeure that first resulted from an

Islamist-linked insurgent attack four years ago.

Exxon is affected by the TotalEnergies project because they

share facilities.

mOZAMBIQUE SEEN BECOMING TOP-10 GLOBAL GAS PRODUCER

While a press briefing scheduled on Wednesday with

Mozambique President Daniel Chapo at Exxon's headquarters in

Spring, Texas was canceled, Woods said he held a productive

visit with the leader.

"Where we're at with Mozambique right now is in a very good

place," Woods said.

Exxon has previously said it hopes to take a final

investment decision on Rovuma LNG in early 2026, with a first

cargo by 2030. Exxon is leading the construction and operation

of onshore liquefaction facilities, while Eni is

leading floating production units in the deepwater block dubbed

Coral North and South.

Completion of the Eni, Exxon and TotalEnergies projects

could make Mozambique a top-10 global gas producer by 2040,

consulting company Deloitte said in a report last year.

TotalEnergies and Mozambique's government still need to

work out pending issues surrounding the overall budget, contract

development and production periods for their project, known as

Mozambique LNG.