-
Two liquefied natural gas trains will each produce 7.6 million tons
per year
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LNG production expected to commence in 2024
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Marketing and financing negotiations underway in parallel with
government approval process
Mozambique Rovuma Venture has submitted the development plan to the
government for the first phase of the Rovuma LNG project, which will
produce, liquefy and market natural gas from the Mamba fields located in
the Area 4 block offshore Mozambique.
The plan details the proposed design and construction of two liquefied
natural gas trains which will each produce 7.6 million tons of LNG per
year.
ExxonMobil
will lead construction and operation of natural gas liquefaction and
related facilities on behalf of the joint venture, and Eni will lead
construction and operation of upstream facilities. As the Rovuma LNG
project progresses, every effort will be made to actively build the
local workforce and supplier capabilities in Mozambique.
“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,” said Liam Mallon, president of ExxonMobil Development
Company.
“The Rovuma LNG Project is moving forward swiftly,” said Stefano Maione,
Eni’s executive vice-president for the Mozambique Program. “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.”
A final investment decision by the Area 4 joint venture parties is
scheduled in 2019, with LNG production expected to commence in 2024.
Marketing activities are progressing, with negotiations on sales and
purchase agreements underway, targeting completion in parallel with the
development plan approval process.
Rovuma LNG is operated by Mozambique Rovuma Venture S.p.A., an
incorporated joint venture owned by ExxonMobil, Eni and CNPC, which
holds a 70 percent interest in the Area 4 concession alongside its
partners Galp, KOGAS and Empresa Nacional de Hidrocarbonetos E.P. (ENH),
each of which hold a 10 percent interest.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy company,
uses technology and innovation to help meet the world’s growing energy
needs. ExxonMobil is a global leader in LNG project execution and holds
an industry-leading inventory of resources, is one of the largest
refiners and marketers of petroleum products, and its chemical company
is one of the largest in the world. For more information, visit www.exxonmobil.com
or follow us on Twitter www.twitter.com/exxonmobil.
Cautionary Statement: Statements of future
events or conditions in this release are forward-looking statements.
Actual future results, including project plans, timing and capacities
and execution of final sales and purchase agreements, could differ
materially due to market prices of oil and natural gas and other
economic conditions affecting the supply and demand for LNG in relevant
markets; the outcome of commercial negotiations; actions of competitors;
changes in political or regulatory factors, including government
approval of development plans; unforeseen technical or operational
factors; and other factors cited under the caption “Factors Affecting
Future Results” on the Investors page of our website at www.exxonmobil.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180708005028/en/
Copyright Business Wire 2018
Source: Business Wire
(July 9, 2018 - 2:00 AM EDT)
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