Exxon’s Rovuma LNG project down but not out
Partners in Mozambique project could seek further cost cuts as global revenue slump looks set to endure
The ExxonMobil-led Rovuma LNG project in Mozambique is the latest high-profile energy venture to suffer delay, as the coronavirus pandemic’s impact on the energy sector deepens. The company announced on 7 April that FID on the £30bn project would not be made in 2020 as planned. It stated it would continue to “actively work with its partners and the government to optimise development plans by improving synergies and exploring opportunities related to the current lower-cost environment”. Rovuma LNG is envisaged as a 15mn t/yr two-train project, based on reserve estimates exceeding 85tn ft3 from deepwater offshore Area 4. “In our base case, we see Rovuma kicking off in 2021” Saraswat, Ry
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
