Mozambique’s Area 4 co-venture participants have secured liquefied natural gas (LNG) offtake commitments from affiliated buyer entities of the partners, a key milestone enabling the participants to rapidly move toward a final investment decision in 2019 on the first phase of the Rovuma LNG project in the Lusophone East African nation, US energy major ExxonMobil and Italy’s ENI said on December 28.

Area 4 participants include ExxonMobil, ENI, the China National Petroleum Corporation (CNPC), Mozambique’s Empresa Nacional de Hidrocarbonetos, South Korea’s Kogas, and Portugal’s Galp.

Those commitments are subject to the conclusion of fully-termed agreements, which will be finalised and initialled in the next weeks, and the approval of the Mozambican government.

 

Full article available: https://www.neweurope.eu/article/eni-exxon-secure-lng-offtake-commitments-in-mozambique/

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