ExxonMobil's (XOM) Optimism Forwards Rovuma LNG Project [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
Last exxon mobil corporation earnings: 5/1 07:34 am
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Source: Yahoo! Finance
The company seems optimistic about the project and expects to seek a final investment decision at the end of 2025. The Rovuma LNG project is being developed by ExxonMobil, along with Eni SpA E. While XOM will be responsible for the construction and operation of the onshore liquefaction and related facilities, Eni will focus on the Coral floating LNG and upstream operations. The Rovuma LNG project is located offshore Area 4 in northern Mozambique. In 2021, TotalEnergies declared force majeure on its Area 1 Mozambique LNG plant because of an offensive by Islamic State-linked insurgents that threatened its facility. This decision also affected ExxonMobil's operations as they relied on the development of shared and common facilities, such as an LNG jetty and offloading facility. Although XOM recognizes the existing challenges in the region, it remains optimistic and believes that these hurdles can be successfully navigated through shared effort. The company is moving forward with th
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