Houston — Exxon Mobil is looking at lifting force majeure on a $30 billion liquefied natural gas project in Mozambique as security conditions in the country improve, CEO Darren Woods told investors on Friday during an earnings call.“Total just lifted their force majeure, and we’re looking at, and are in the process of, trying to do the same,” Woods said, referring to the French energy firm that is developing a related – but distinct – project nearby.
Reuters reported earlier this week that Exxon was unable to make a final investment decision on its project, called Rovuma LNG, until TotalEnergies resumes work after it lifted a separate force majeure that first resulted from an Islamist-linked insurgent attack four years ago.
Exxon is affected by the TotalEnergies project because they share facilities.
MOZAMBIQUE SEEN BECOMING TOP-10 GLOBAL GAS PRODUCER
While a press briefing scheduled on Wednesday with Mozambique President Daniel Chapo at Exxon’s headquarters in Spring, Texas was canceled, Woods said he held a productive visit with the leader.
“Where we’re at with Mozambique right now is in a very good place,” Woods said.
Exxon has previously said it hopes to take a final investment decision on Rovuma LNG in early 2026, with a first cargo by 2030. Exxon is leading the construction and operation of onshore liquefaction facilities, while Eni is leading floating production units in the deepwater block dubbed Coral North and South.
Completion of the Eni, Exxon and TotalEnergies projects could make Mozambique a top-10 global gas producer by 2040, consulting company Deloitte said in a report last year.
TotalEnergies and Mozambique’s government still need to work out pending issues surrounding the overall budget, contract development and production periods for their project, known as Mozambique LNG.
Reporting by Sheila Dang in Houston; Editing by Nathan Crooks and David Holmes – Reuters
