ExxonMobil, Co-venturers announce progress in Rovuma LNG marketing

ExxonMobil, Co-venturers announce progress in Rovuma LNG marketing

7:04 AM, 3rd July 2018
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WASHINGTON, US: ExxonMobil Corporation and Eni said that marketing efforts are underway for the Rovuma LNG project, which will produce, liquefy and sell natural gas from the gas fields of the Area 4 block offshore Mozambique.

Senior management representatives of the co-venture parties (ExxonMobil, Eni, CNODC, ENH, Kogas and Galp) met at the World Gas Conference to affirm marketing progress.

The initial phase of the Rovuma LNG project will develop the Mamba reservoirs in Area 4 and help deliver reliable, affordable energy to customers and create long-term economic value for the people of Mozambique and the project’s co-venturers.

ExxonMobil Mocambique Limitada will lead construction and operation of liquefaction trains and related onshore facilities for the Rovuma LNG project, while Eni Rovuma Basin will lead upstream developments and operations. In parallel to the marketing, the co-venturers are also advancing financing activities and working with the government of Mozambique to progress approval of the project.

“The key strength of Area 4 is the quality of the co-venture partnership. Following the final investment decision on Coral South FLNG in 2017, we are working together to develop the remaining gas fields which will feed the Rovuma LNG trains, taking full advantage of the expertise of all our co-venture parties,” said Massimo Mantovani, Eni chief gas and LNG marketing and power officer.

“We have made significant progress on marketing and are now in active negotiations on binding sales and purchase agreements for Rovuma LNG with some affiliated buyer entities of the Area 4 co-venturers. These commitments will help us progress toward a final investment decision, which we expect to reach in 2019,” added Peter Clarke, president of ExxonMobil Gas and Power Marketing Company.

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