Participants of Area 4 are ExxonMobil, Eni, the China National Petroleum Corporation, Empresa Nacional de Hidrocarbonetos, Kogas and Galp.
They have annexed liquefied natural gas (LNG) offtake commitments from affiliated buyer organizations of the partners, a key milestone allowing the participants to quickly move toward a final investment decision in 2019 on the first step of the Rovuma LNG project.
Peter Clarke, president of ExxonMobil Gas and Power Marketing Company said, “The Rovuma LNG marketing team has worked at an extended pace to reach this important milestone, a huge achievement that was made possible by the strength of the Area 4 co-venture parties and the support of the Government of Mozambique”.
Those commitments are content to the closure of fully-termed agreements, which will be finalized and approved and the approval of the Government of Mozambique.
Eni chief gas and LNG marketing and power officer, Massimo Mantovani said: “these commitments are an important step forward for the Rovuma LNG project and provide a strong foundation for connecting project financing.
This achievement features the strength of our partnership and commitment to developing Mozambiques natural resources.
The development plan for the first step of the Rovuma LNG project specifies the proposed design and construction of two liquefied natural gas trains, which will each produce 7.6 million tons of LNG per year.
Mozambique Rovuma Venture is presently holding productive discussions with the Mozambican Government on development plan details.
In July 2018, Mozambique Rovuma Venture submitted the development plan to the Government of Mozambique for the first step of the Rovuma LNG project, which will produce, liquefy and market natural gas from the Mamba fields located in the Area 4 block offshore the Rovuma Basin in Mozambique.
ExxonMobil will lead construction and operation of natural gas liquefaction and related facilities on part of the Area 4 joint venture, while Eni will lead the construction and operation of the upstream facilities.
Mozambique Rovuma Venture S.p.A., an incorporated joint venture run by ExxonMobil, Eni and CNPC, holds a 70 percent participation interest in the Area 4 exploration and production concession contract (EPCC), along with Empresa Nacional de Hidrocarbonetos, Galp and Kogas, each of which holds a 10 percent interest.
Also in addition to generating government revenues, the proposed Rovuma LNG project will support long-term economic growth in Mozambique by developing the local workforce, building the capabilities of and demand for suppliers, and assisting with community development efforts.