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Project Insights

Rovuma LNG signs investment decision amid security concerns

Exxon celebrated an ‘initial’ investment decision on the project on Tuesday, but FID has been pushed back to Q1 2020 amid the uncertain security situation Exxon celebrated an ‘initial’ investment decision on the project on Tuesday, but FID has been pushed back to Q1 2020 amid the uncertain security situation.
By Leigh Elston 8 October 2019 Middle East & Africa / LNG 0 34662
Rovuma LNG's initial investment decision ceremony in Maputo. (Interfax)

Mozambique Rovuma Venture (MRV), operator of the Area 4 gas block in northern Mozambique, held an initial investment decision ceremony for the Rovuma LNG project in Maputo on Tuesday morning. The ceremony awarded the EPC contract for the project to a consortium of JGC Corp., Fluor and Technip FMC. It also marked the government’s approval of the offtake agreements for the project, the full 15.2 mtpa of which will be bought by affiliates of the LNG project developers.

It had been expected that the ExxonMobil-led MRV...