ExxonMobil Pre — Commits $1. 1B to Mozambique LNG Project Kigali, Rwanda – August 18, 2026 – ExxonMobil has announced the awarding of new engineering contracts worth $20 billion, a pivotal step in the development of the $30 billion Mozambique LNG project.
The Rovuma LNG project, located in Mozambique’s Rovuma Basin, is set to produce 18. 6 million tonnes of LNG annually from 12 modular trains, with startup targeted for 2031. This project is a cornerstone of Mozambique’s economic development strategy and a significant investment in the continent’s energy sector.
ExxonMobil’s recent decision to lift the ‘force majeure’declaration in November 2025, a crucial step toward the Final Investment Decision (FID), expected in 2026, underscores the company’s commitment. Despite sanctions imposed by the US Treasury, ExxonMobil and TotalEnergies, who share infrastructure on the Afungi peninsula, were granted exemption by the Rwandan armed forces for protection. This move highlights the strategic importance of the project for both companies and the region.
Fitch Ratings indicates that the resumption of TotalEnergies’LNG project could facilitate ExxonMobil’s final investment decision, suggesting a positive impact on the region’s economic growth. Experts believe that ExxonMobil’s commitment could strengthen Mozambique’s position as a major global LNG exporter.
The Rovuma LNG project is designed to produce 18. 6 million tonnes of LNG annually, which could significantly boost Mozambique’s foreign investment, government revenue, and industrial development. With startup targeted for 2031, the project is poised to become a major player in the global LNG market.
ExxonMobil’s recent awarding of $1. 1 billion in pre-investment contracts for certain upstream equipment for the Rovuma LNG Phase 1 project in Cabo Delgado is a clear signal that the project is moving forward after years of suspension. This move reflects the company’s confidence in the project’s viability and its potential to contribute to Mozambique’s economic growth.
As the final investment decision looms, the Rovuma LNG project remains a key indicator of Africa’s growing potential in the global energy market. With ExxonMobil’s latest commitment, the project continues to gain momentum, setting the stage for a new era of energy development in Mozambique and the broader African continent.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: Africa.businessinsider
Source: Ayodeji Adegboyega
