The British consultant Oxford Economics considered on Wednesday, 22 October, that the US oil company ExxonMobil should only take the Final Investment Decision (FID) for the Rovuma LNG project, after stabilizing security in Cabo Delgado, northern Mozambique, "to start the production of liquefied natural gas (LNG) for 2031".
" The risks of further delays have increased again due to the resurgence of terrorist attacks and, in our opinion, a Final Investment Decision on ExxonMobil's Rovuma LNG project will not be completed before the lifting of the 'major force' on Mozambique's gas projects and, consequently, the first production is not likely before 2031," wrote African Department analysts quoted in a publication by Lusa.
In the publication, analysts advance: "We continue to assume that safety around Palma can be guaranteed and that TotalEnergies and the Government will reach an agreement on a development plan and an updated budget for the Mozambique LNG project to be resumed in the first half of 2026, with the start of production in the second half of 2030. "
In September, ExxonMobil's director-general in Mozambique, Arne Gibbs, stated that "the end of the conflict is crucial to ensuring a sustainable development environment", recognizing, however, the stability provided by the Defence and Security Forces (FDS).
Gibbs assured that after the lifting of the "force majeure" clause triggered in 2021 by TotalEnergies, leader of the Area 1 consortium, ExxonMobil will begin to explore Area 4 of the Rovuma basin and can start work in 2030, with investments of more than 300 million dollars in the initial phase, including expansion of infrastructure and creation of at least 400 direct jobs for nationals.
