ExxonMobil announced a delay in the final investment decision (FID) for its Rovuma liquefied natural gas (LNG) project in Mozambique. The company now expects the FID to occur in 2026, pushing back the financial go-ahead by approximately a quarter.
The Rovuma LNG project is a significant investment for ExxonMobil in Africa, anticipated to produce 18 million tonnes per annum (MTPA) of LNG. This delay impacts the timeline for this large-scale project's contribution to the company's global LNG portfolio.
Management stated that the project is a concept outstanding from a technology perspective, designed to significantly reduce greenhouse gas emissions. The construction phase is expected to boost local businesses and create jobs.
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