ExxonMobil may decide on investment by September, reveals PR

The President of the Republic, Daniel Chapo, revealed that the American oil company ExxonMobil could make the final investment decision (FID) for the Rovuma LNG Project by September of this year. The announcement was made on Monday (16), during a visit to Brussels, where the Head of State participated in a round table with representatives of the Belgian Government and investors interested in the Mozambican energy sector.

According to Chapo, the Executive maintains an active dialogue with ExxonMobil, and there is an expectation that, between August and September, it will be possible to officially announce the progress of the project, located in Area 4 of the Rovuma Basin, in Cabo Delgado.

The project has experienced successive delays in recent years, mainly due to the instability caused by terrorism in northern Cabo Delgado since 2017. However, the President highlighted that the security situation has been improving, which has already allowed the resumption of initiatives in the sector. As an example, he mentioned the restart, in February, of the Mozambique LNG Project, led by TotalEnergies, in Area 1 of the same basin, after a stoppage caused by insecurity.

During the meeting, Daniel Chapo also presented a strategic vision to transform Mozambique into a leading energy and logistics center in Southern Africa. In this context, he highlighted the role of SADC and stated that the country has the potential to become a true energy hub in the region.

The President highlighted the importance of the Cahora Bassa hydroelectric plant, which already supplies clean energy to several neighboring countries, and called for investment in the Mphanda Nkuwa hydroelectric project, with a planned capacity of 1,500 megawatts.

In the logistics sector, Chapo highlighted the Maputo, Beira, and Nacala development corridors as key infrastructure for accessing the interior of the continent. He also emphasized the modernization of the Port of Nacala and the investment in the digitalization of logistics infrastructure, including the creation of digital corridors.

Beyond energy and logistics, the Head of State advocated for economic diversification, focusing on agriculture and tourism. He mentioned the potential of the extensive arable land and the approximately 2,700 kilometers of coastline, as well as the opportunities in conservation areas, such as Gorongosa National Park and the Niassa Reserve, known for their rich biodiversity.

Finally, Chapo reiterated his ambition to position Mozambique as a regional technology hub, with the installation of data centers and the strengthening of public-private partnerships, taking advantage of energy availability to serve the national market and neighboring countries.