News Flash
- US oil and gas company Exxon Mobil has postponed for the third consecutive year the US 30 billion Final Investment Decision on their natural gas exploration project in Mozambique.
- Speaking at an investor forum earlier this week, Senior Vice President Neil Chapman said, “there is no forecast on when the investment decision will be made on the natural gas plant in the Rovuma basin, as the oil company needs to secure power supplies from the neighbouring plant, operated by France’s Total.”
Exxon Mobil leads the consortium which include Italy’s Eni, China National Petroleum, Kogas, Portugal’s Galp and the National Hydrocarbons Company. The project has forward gas sales contracts signed with foreign customers since 2018. Read more
The project received the go ahead from the Mozambican government in 2019.
It is speculated that another concern Exxon Mobil has, is the insecurity in the area. Capo Delgado has been under attack by rebel groups in the last three years. More recently, Total took the decision to evacuate their staff from their Alfungi LNG plant as rebels drew near to the compound gate. Read more
Author: Bryan Groenendaal
