Maputo, Aug. 12, 2026 (Lusa) - ExxonMobil has announced its intention to move towards a final investment decision (FID) on the Rovuma LNG project in Mozambique before the end of this year, according to information released by the presidency office.
In a statement, the Presidency revealed that the intention to proceed to FID later this year was reiterated during a meeting held on Tuesday in Maputo between the Mozambican president, Daniel Chapo, and ExxonMobil's President for Upstream, Dan Ammann.
The meeting took place at a stage considered decisive for the development of the major gas project in Area 4 of the Rovuma Basin, just a few days after the US multinational announced the selection of the consortium responsible for the main onshore works – one of the final steps before final investment approval.
At the end of the meeting, the president of ExxonMobil Mozambique, Johanna Boothey, quoted in the document, described the meeting as «very productive», stating that there had been «a great deal of discussion on how we will move forward with the Rovuma project to reach a Final Investment Decision this year».
She added that the potential economic and social benefits of the project were also discussed, including employment opportunities, social projects and increased revenue for the Mozambican state.
The Rovuma LNG project involves the production, liquefaction and export of natural gas from the reserves in Area 4 of the Rovuma Basin, off the coast of Cabo Delgado, with ExxonMobil responsible for operating the future onshore facilities. The final investment decision is considered the main remaining milestone for the start of the project's development phase.
The onshore development of the project involves the construction of 12 liquefaction trains, with a total production capacity of 18.6 million tonnes of LNG per year, and operational start-up is scheduled for 2031.
The Rovuma LNG project is led by ExxonMobil, as the delegated operator of Area 4, in partnership with ENH, CNPC, ENI, KOGAS and XRG.
Back in July, Daniel Chapo had already told Lusa that he expected the FID to be approved by September, describing Rovuma LNG as «the largest private investment project on the African continent», valued at around $20 billion.
Last week, ExxonMobil announced the selection of the SMDC consortium – led by Saipem, McDermott Energy Solutions, Daewoo Engineering & Construction and China Petroleum Engineering & Construction Corporation – to carry out the engineering, procurement and construction work for the first phase of the project.
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