Rovuma LNG project reaches initial investment decision (Mozambique)
The Mozambique Rovuma Venture (MRV) has reached an initial investment decision on the Rovuma LNG project in the northern province of Cabo Delgado (Mozambique). A final investment decision could be taken in 2020, and production is expected to start in 2025. In May 2019, the government of Mozambique approved the development plan for the Rovuma LNG project, which will liquefy and export gas from three reservoirs in the Area 4 block offshore Mozambique. The liquefaction plant will include two LNG trains with a combined capacity of 15.2 Mt/year.
The Mozambique Rovuma Venture, a joint venture of ExxonMobil, Eni and CNPC, owns a 70% stake in the Area 4 exploration and production concession contract, in partnership with Galp, KOGAS and Empresa Nacional de Hidrocarbonetos (ENH), which each hold a 10% stake. ExxonMobil will lead the construction and operation of the LNG plant and related facilities on behalf of the MRV, while Eni will oversee the construction and operation of upstream facilities. ExxonMobil has just selected a consortium comprising Japanese company JGC, Fluor Corp and TechnipFMC to develop the first phase of the project, worth US$500m.
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