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Report: Exxon eyes Rovuma LNG final investment decision in 2020

Exxon Mobil Corp. aims to make a final investment decision on the $30 billion Rovuma liquefied natural gas project in Cabo Delgado, Mozambique, by 2020, Reuters reported Oct. 8, citing remarks made by Exxon head of power and gas marketing Peter Clarke at an event in Mozambique.

The company will invest more than $500 million in the initial construction phase. The project, which will use resources from the Rovuma Basin's Area 4 block, is composed of two natural gas production trains with a total capacity of 15.2 million tonnes per annum.

Exxon is developing the project with Eni SpA and China National Petroleum Corp. under the joint venture company Mozambique Rovuma Venture S.p.A.

The partners awarded the engineering, procurement and construction contracts for the trains and related onshore facilities to a consortium of JGC Corp., TechnipFMC PLC and Fluor Corp.

In December 2017, Exxon took over the project after a $2.8 billion deal with Eni.

Mozambique Rovuma Venture holds a 70% stake in Area 4, while Galp Energia SGPS S.A., Korea Gas Corp. and Empresa Nacional de Hidrocarbonetos, E.P own 10% each.