US oil company ExxonMobil has reaffirmed its commitment to investing in the Liquefied Natural Gas (LNG) project in Area 4 of the Rovuma basin, in Cabo Delgado, northern Mozambique. The company’s general manager in Mozambique, Arne Gibbs, stressed that the company has never interrupted its operations and is committed to developing the project.
“We are coordinating with the Defense and Security Forces (FDS) and the Ministry of National Defense to ensure security. We are also working with the government to help local companies maximize Local Content, especially with the imminent return of TotalEnergies,” said Gibbs.
In an audience with the President of the Republic, Filipe Nyusi, Gibbs highlighted the improvement of security in the province, especially in the area where the natural gas developments are located. “I want to recognize the work of the FDS. We still have challenges, but the situation is better than it was a few years ago,” he said.
Last July, ExxonMobil’s senior vice president, Peter Clarke, said at a conference in Canada that the LNG project was progressing well and final approval was expected in 2025. “A lot depends on the security situation, which has been well managed. The local government is doing a good job and we expect more positive news by the end of the year,” said Clarke.
In Area 4 (operated by Mozambique Rovuma Venture), ExxonMobil holds a 35.7% stake in the concession contract. Recently, the financial consultancy firm Deloitte estimated that Mozambique’s natural gas reserves could generate revenues of 100 billion dollars.
