October 8, 2019 / 10:39 AM / 6 days ago

Exxon to make $500 mln initial investment in Mozambique LNG project

MAPUTO, Oct 8 (Reuters) - Exxon Mobil will invest more than $500 million in the initial construction phase of its liquefied natural gas (LNG) project in Mozambique, the U.S. energy company said on Tuesday.

Construction of onshore facilities has been awarded to a consortium led by Japan’s JGC, U.K firm TechnipFMC and U.S. company Fluor Corp, Exxon head of power and gas marketing Peter Clarke told a ceremony in the capital Maputo.

The $30 billion Rovuma LNG project has a capacity of 15 million tonnes a year (mtpa) and is set pump much-needed cash into the southern African nation’s ailing economy. (Reporting by Manuel Mucari; writing by Mfuneko Toyana; editing by Jason Neely)

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