ExxonMobil to invest $500 mln in Rovuma LNG construction phase

ExxonMobil to invest $500 mln in Rovuma LNG construction phaseIllustration purposes only (Image courtesy of ExxonMobil)

U.S. energy giant ExxonMobil is lining up a $500 million investment for the initial construction phase of its Rovuma LNG project in Mozambique. 

The project’s total value is estimated at $30 billion and will have a total production capacity of 15 million tonnes of LNG per annum.

Speaking at a ceremony in Maputo, ExxonMobil’s head of power and gas marketing, Peter Clarke said the Area 4 partners will move forward with the midstream and upstream area project activities with an initial investment of $500 million, Reuters reports.

The onshore facilities construction job has been awarded to a consortium comprising JGC of Japan, TechnipFMC from the UK and the United States contractor Fluor.

Clarke noted the EPC contract covers the construction of two trains totaling 15.2 mtpa in production capacity, as well as associated onshore facilities.

He also added that, contrary to some reports that the final investment decision on the project will be reached next week, the Area 4 partners expect to make the call in 2020.

Area 4 is operated by Mozambique Rovuma Venture (MRV), which holds a 70 percent interest in Area 4 exploration and production concession contract. Galp, KOGAS and Empresa Nacional de Hidrocarbonetos each hold a 10 percent interest.

ExxonMobil will lead the construction and operation of natural gas liquefaction and related facilities on behalf of MRV, and Eni will lead the construction and operation of upstream facilities.

 

LNG World News Staff

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