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Exxon to make $500 mln initial investment in Mozambique LNG project

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10/08/2019 | 06:49am EST
Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro

MAPUTO (Reuters) - Exxon Mobil will invest more than $500 million in the initial construction phase of its liquefied natural gas (LNG) project in Mozambique, the U.S. energy company said on Tuesday.

Construction of onshore facilities has been awarded to a consortium led by Japan's JGC, U.K firm TechnipFMC and U.S. company Fluor Corp, Exxon head of power and gas marketing Peter Clarke told a ceremony in the capital Maputo.

The $30 billion Rovuma LNG project has a capacity of 15 million tonnes a year (mtpa) and is set pump much-needed cash into the southern African nation's ailing economy.

(Reporting by Manuel Mucari; writing by Mfuneko Toyana; editing by Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
CLARKE INC. -1.43% 12.42 Delayed Quote.0.80%
EXXON MOBIL CORPORATION -0.55% 68.1281 Delayed Quote.0.48%
FLUOR CORPORATION -0.98% 17.16 Delayed Quote.-46.12%
JGC HOLDINGS CORPORATION -0.99% 1699 End-of-day quote.14.49%
LANCASHIRE HOLDINGS 2.91% 725.5 Delayed Quote.16.53%
TECHNIPFMC -1.79% 19.1809 Delayed Quote.-0.31%
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