Rovuma LNG nearing FID

Rovuma LNG nearing FIDIllustration purposes only (Image courtesy of ExxonMobil)

Mozambique Rovuma Venture, formed by ExxonMobil, Eni and CNPC, inked a supplementary deal that follows the approval of the development plan for the Rovuma LNG project.

According to a statement by the Ministry of Mineral Resources and Energy, the supplemental deal the legal and contractual framework allowing the ROvuma LNG project to progress.

Commenting on the agreement, MRV joint venture’s midstream managing director Mark Hackney, noted that it is a significant step towards the final investment decision for the Rovuma LNG project expected later this year.

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), 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.

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