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The Rovuma LNG project, in the Rovuma Basin in Cabo Delgado, is moving closer to a Final Investment Decision following progress made in recent months and a meeting in New York between President Daniel Chapo and ExxonMobil officials.
The meeting brought together Daniel Chapo and Dan Ammann, Vice President of ExxonMobil Corporation and President of ExxonMobil Upstream, to assess the project’s progress and the steps required before a decision is made to move into the construction phase.
Following the meeting, ExxonMobil Mozambique General Manager Johanna Boothey said the project had made significant progress and was nearing a final investment decision.
“It was a productive discussion, where we saw that the project has progressed very well and that we are very close to being able to make a final investment decision,” she said.
ExxonMobil continues to target 2026 for the Final Investment Decision. In recent months, the Area 4 partners have advanced pre-investment contracts and selected contractors for different components of the project.
During the meeting, Chapo highlighted the importance of Rovuma LNG for job creation, economic development and the generation of opportunities for Mozambican companies and workers.
The discussions also covered local content, workforce training, participation of national companies, operational safety and the energy transition.
ExxonMobil says the preparatory work currently under way is intended to create the conditions for construction to move forward quickly once the investment is formally approved.
The first phase of Rovuma LNG is expected to include 12 liquefaction modules, with a combined capacity of around 18.6 million tonnes of liquefied natural gas per year.
The project is led by ExxonMobil as the delegated operator of Area 4, in partnership with other members of the consortium.
The Final Investment Decision will be one of the key steps in moving the project from its current preparation phase into full-scale construction and development.
The Mozambican Government has launched a process to select a private investor, consortium or strategic partner to establish and operate a vehicle assembly plant in the country through a public-private partnership.
President Daniel Chapo, who is also Commander-in-Chief of the Defence and Security Forces, has pledged to strengthen support for members of the Mozambique Armed Defence Forces, while acknowledging challenges related to equipment, logistics, infrastructure and professionalisation.
The Maputo City Tax Court has concluded its review of Galp’s appeal against a €151.5 million capital gains tax assessment related to the sale of its stake in Area 4 of the Rovuma Basin.
The Mozambique Tax Authority has seized 8,995 boxes of beverages in Maputo province, valued at more than 17 million meticais, as part of customs inspection and anti-fraud operations.
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