Mozambique expects ExxonMobil to make the final investment decision (FID) on the Rovuma LNG project by September 2026, according to President Daniel Chapo, who described the development as the largest private investment currently planned in Africa.
Speaking before departing for an official visit to Portugal, President Chapo said discussions with ExxonMobil are progressing positively and expressed confidence that the project will reach a decisive milestone in the coming months.
“We are making good progress with Exxon. If everything goes according to plan, we expect to sign the final investment decision by September this year,” the president said, referring to an investment estimated at around US$20 billion.
The Rovuma LNG project, led by ExxonMobil in Area 4 of the Rovuma Basin, is expected to share key infrastructure with the neighbouring Mozambique LNG development operated by TotalEnergies in the Afungi peninsula, creating operational synergies between the two megaprojects.
Earlier this year, during the ceremony marking the restart of the Mozambique LNG project after nearly five years of suspension, President Chapo had already indicated that ExxonMobil’s investment could move forward within approximately one year.
ExxonMobil formally lifted the force majeure declaration affecting the Rovuma LNG project in November 2025, signalling renewed confidence in the security environment in Cabo Delgado and paving the way for the project’s final investment decision.
The company suspended development in 2021 following insurgent attacks in northern Mozambique that disrupted major energy investments across the region.
Mozambique currently has three approved LNG developments in the Rovuma Basin, home to some of the world’s largest offshore natural gas reserves.
ExxonMobil’s Rovuma LNG project is designed to produce up to 18 million tonnes of LNG per year from Area 4, while the neighbouring Mozambique LNG project, operated by TotalEnergies in Area 1, is expected to begin production in 2029 with an annual capacity of 13 million tonnes.
The country is already producing LNG through Eni’s Coral Sul FLNG platform, which has been operating since 2022. Production capacity is expected to double from 2028 with the addition of the Coral Norte floating LNG facility, backed by an investment of approximately US$7.2 billion, while plans for a third floating unit remain under evaluation.
