The Strategist

Exxon requests security guarantees from Mozambique for future $30 billion LNG plant



10/01/2025 - 05:54



ExxonMobil's CEO Darren Woods has sought security assurances from Mozambique's President Daniel Chapo in Cabo Delgado, where terrorist groups have been present since 2017, regarding the plan to establish the continent's largest LNG terminal at a cost of $30 billion, according to the Financial Times.



Mike Mozart via flickr
Mike Mozart via flickr
Exxon leads the Rovuma LNG initiative, supported by Italy's Eni and China's CNPC. The initiative aims to transport gas extracted from offshore fields in Mozambique to an onshore LNG facility with an annual capacity of 18 million tons. Exxon delayed the final investment decision on the Rovuma LNG project from late 2025 to 2026 last year.

As reported by the FT, during the UN General Assembly in New York, the parties also talked about TotalEnergies' intentions to restart operations at the LNG facility being built close by the French oil firm.

An Exxon representative mentioned that the company is collaborating closely with TotalEnergies, the government of Mozambique, and its partners involved in the Rovuma LNG project to ensure that all required conditions are satisfied for a final investment decision regarding the project.

source: ft.com