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ExxonMobil completes LNG acquisition in Mozambique

IRVING, Texas — ExxonMobil announced today the completion of a transaction by ExxonMobil Development Africa B.V. to acquire a 25% indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.

ExxonMobil will lead the construction and operation of all future natural gas liquefaction and related facilities, while Eni will continue to lead the Coral floating LNG project and all upstream operations. The operating model will enable the use of best practices and skills with each company focusing on distinct and clearly defined scopes while preserving the benefits of an integrated project.

Natural gas is projected to be the world’s fastest-growing major fuel source, and Mozambique is well-positioned to supply LNG customers around the world. The deepwater Area 4 block contains an estimated 85 trillion cubic feet of natural gas in place.

ExxonMobil now owns a 35.7% interest in Eni East Africa S.p.A. (to be renamed Mozambique Rovuma Venture S.p.A.), which holds a 70% interest in Area 4, and is co-owned with Eni (35.7%) and CNPC (28.6%). The remaining interests in Area 4 are held by Empresa Nacional de Hidrocarbonetos E.P. (10%), Kogas (10%) and Galp Energia (10%).


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                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
This year could be the largest ever for LNG export project final investment decisions (FIDs).
EWAnalysis: Impact of technology on gas transmission management—Part 2
-Bob Andrew
This article is the second in our “Impact of Technology” series; the first was “Impact of technology in gas processing plants—Part 1,” which appeared in the October/November 2018 issue of Gas Processing & LNG.


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