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Area 4 co-venture parties secure offtake commitments for the Rovuma LNG project

Area 4 co-venture participants have secured LNG offtake commitments from affiliated buyer entities of the partners.


Maputo, December 29 - Neftegaz.RU. Area 4 co-venture participants have secured 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 1st phase of the Rovuma LNG project. Area 4 participants are ExxonMobil, Eni, CNPC, Empresa Nacional de Hidrocarbonetos, Kogas and Galp.

 

Those commitments are subject to the conclusion of fully-termed agreements, which will be finalized and initialed in the next weeks, and the approval of the government of Mozambique.

 

«The Rovuma LNG marketing team has worked at an accelerated pace to reach this important milestone, a tremendous achievement made possible by the strength of the Area 4 co-venture parties and the support of the government of Mozambique,» said Peter Clarke, president of ExxonMobil Gas & Power Marketing.

 

The project will produce, liquefy and market natural gas from the Mamba fields located in the Area 4 block in the Rovuma Basin offshore Mozambique. ExxonMobil will lead construction and operation of gas liquefaction and related facilities on behalf of the Area 4 joint venture, and Eni will lead construction and operation of upstream facilities.

 

The development plan for the 1st phase of the Rovuma LNG project specifies the proposed design and construction of 2 liquefied natural gas trains, which will each produce 7.6 million tons of LNG per year.

 

Mozambique Rovuma Venture, an incorporated joint venture owned by ExxonMobil, Eni and CNPC, holds a 70 % participation interest in the Area 4 exploration and production concession contract alongside Empresa Nacional de Hidrocarbonetos, Galp and Kogas, each of which hold a 10 % interest.

 

Source : Neftegaz.RU