XOM · News · 20260807N
Mozambique Rovuma LNG Project
ExxonMobil Holdings Corp · 2026-08-07 · Importance 58 · Surprise 42 · In source text
ExxonMobil Moçambique issued McDermott Energy Solutions a letter of intent for the Rovuma LNG Phase 1 midstream development in Mozambique. The project is estimated at approximately $30 billion, with a final investment decision expected in 2026 and startup targeted for 2031. The development is intended to establish Mozambique as a major global LNG supplier and is projected to create more than 150,000 jobs.
Key facts
- McDermott secured a letter of intent from ExxonMobil Moçambique for the Rovuma LNG Phase 1 midstream development in Mozambique, with the project estimated at around $30 billion, an FID expected in 2026 and startup anticipated in 2031. source
- The Rovuma LNG Phase 1 project is projected to create over 150,000 jobs and generate substantial revenues for Mozambique according to the report. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | probable | +3.2% | McDermott secured a letter of intent from ExxonMobil Moçambique for the Rovuma LNG Phase 1 midstream development in Mozambique, with the… |
| cash | negative | probable | -3.2% | McDermott secured a letter of intent from ExxonMobil Moçambique for the Rovuma LNG Phase 1 midstream development in Mozambique, with the… |