Mozambique: Sovereign Fund finances first 15 projects this year
Exxon targets first LNG from $30 billion Mozambique project by 2030
9:12 CAT | 08 Nov 2024
Photo: @Real_AEW/X
Exxon Mobil is expecting the first liquefied natural gas (LNG) output from its project in Mozambique in 2030, a company executive said on Thursday.
Exxon along with partners including Eni ENI.MI and China’s CNPC are developing an LNG project in northern Mozambique, with the U.S. energy giant leading the construction and operation of the onshore liquefaction and related facilities.
“We will most likely next year start some early works in (the) Afungi (site) to get things going, keep it on track and allowing us to get first LNG (production) in 2030,” Frank Kretschmer, general manager at the company’s Mozambique unit, told delegates at an energy conference in Cape Town.
The company said on Wednesday that it now expected a final investment decision for its Rovuma LNG project in Mozambique in early 2026. The cost of the project is estimated at about $30 billion.
The #AfricanEnergyWeek plenary sessions began with insightful keynote addresses by Frank Kretschmer, General Manager and LCM Mozambique at @exxonmobil and Dave Campbell, SVP for @bp_plc in Mauritania and Senegal.
A dynamic panel discussion, The Future of Gas in Africa’s Energy… pic.twitter.com/vPPq3pDdYM
— African Energy Week (@Real_AEW) November 5, 2024
Source: Reuters
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