Exxon Mobil has revealed ambitious plans for the resumption of liquified natural gas (LNG) production in Mozambique.
The energy giant recently advertised in Mozambique’s O País newspaper, Bloomberg reports, calling for expressions of interest in the design and building of an LNG plant. To be situated in the north of Mozambique at the Rovuma Basin, the plant is to have a capacity of up to 18 million tons a year.
A previous project, mothballed because of the Islamist insurgency, was to only have an annual capacity of just over 15 million tons.
[See More: France’s TotalEnergies is restarting its US$20 billion LNG project in Mozambique]
In its new project, Exxon Mobil is reportedly partnering with the China National Petroleum Corporation, Portugal’s Galp, South Korea’s Kogas and Mozambique ENH.
The news comes after France’s TotalEnergies said in February that it was mulling a restart of its LNG export venture in Cabo Delgado province. That project was halted two years ago, also following Islamist attacks.
LNG investments offer an economic lifeline for impoverished Mozambique, which is counting on export revenues to service its debts, Bloomberg says.
