Eni and ExxonMobil submit development plan for joint venture LNG project in Mozambique

By professo

The Italian energy company, Eni, and the US petroleum oil and gas firm, ExxonMobil, have submitted development plans for their joint venture.

The Mozambique Rovuma Venture provided the government with plans for the first phase of the Rovuma LNG project.

The project will produce, liquefy, and market natural gas sourced from Mamba fields in Area 4 block on the coast of Mozambique.

As part of the first phase, the two firms aim to build two liquefied natural gas (LNG) gas trains with the capacity of 7.6mn tons of production per year.

Final investment decisions by venture parties are planned for 2019, whilst the project is anticipated to be operational by 2024.

SEE ALSO:

ExxonMobil will be responsible for the construction and operation of the natural gas liquefaction facility, whilst Eni will construct and operate the upstream facilities.

“We are excited to be progressing the Rovuma LNG project, working with the government and leveraging the expertise and capabilities of all of the partners,” state Liam Mallon, ExxonMobil Development Company’s President.

“The Rovuma LNG Project is moving forward swiftly,” noted Stefano Maione, Executive Vice-President for the Mozambique Program at Eni.

“The size of the project makes it not only an important investment in the country, but also supports economic growth and opens new opportunities for Mozambicans.”

Share

Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy