Mozambique Rovuma Venture, formed by ExxonMobil, Eni and CNPC, said today that the government of Mozambique had approved its development plan for the Rovuma LNG project.
Rovuma LNG project plans to produce, liquefy and market natural gas from three reservoirs located in the Area 4 block offshore Mozambique, two of which straddle the boundary with neighboring Area 1, where the Anadarko-led Mozambique LNG project will draw resources from.
“The development plan approval marks another significant step toward a final investment decision later this year,” said Liam Mallon, president of ExxonMobil Upstream Oil & Gas Company.
“This is the third development plan approved in this five-year period to enable the sustainable development of the huge natural gas reserves discovered in the Rovuma basin and represents the government’s commitment to ensure the implementation of projects that will drive the development of Mozambique,” said Ernesto Elias Max Tonela, minister of mineral resources and energy.
The marketing effort for the LNG produced from the Rovuma LNG project is jointly led by ExxonMobil and Eni. Sales and purchase agreements for 100 percent of the LNG capacity for trains 1 and 2 have been submitted to the government of Mozambique for approval, which together will produce more than 15 million tons of LNG per year.
During the production phase, the Rovuma LNG project expects to provide up to 17,000 tons of liquefied petroleum gas (LPG) per year in Mozambique from Area 4 resources.
Area 4 is operated by Mozambique Rovuma Venture (MRV), a joint venture owned by ExxonMobil, Eni and CNPC, which holds a 70 percent interest in the 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.