Exxon lifts force majeure on LNG project in Mozambique

Exxon Mobil may lift force majeure for a $30 billion liquefied gas project in Mozambique, according to CEO Darren Woods. Woods made the announcement during a Friday earnings call.

Woods, who is referring to a French energy company that is developing an adjacent, but related, project, said: "Total has lifted their force majeure. We're in the process of trying to do the similar."

Reports earlier this week stated that Exxon could not make a final decision on the project called Rovuma until TotalEnergies resumes its work following a force majeure lifted by it four years ago, which was caused by an insurgent attack linked to Islamists.

TotalEnergies affects Exxon because the two companies share facilities.

MOZAMBIQUE SEEN AS TOP-10 GAS PRODUCER IN THE WORLD

Woods stated that despite the cancellation of a scheduled press conference with Mozambique's President Daniel Chapo on Wednesday at Exxon headquarters in Spring Texas, he had a productive meeting with him.

Woods stated that "where we are with Mozambique at the moment is a very positive place."

Exxon previously stated that it hoped to make a final decision about Rovuma's LNG investment in early 2026 and have a first shipment by 2030. Exxon leads the construction and operations of the onshore liquefaction plants, while Eni leads the floating production units within the deepwater coral North and South block.

Deloitte, a consulting firm, said in a recent report that the completion of Eni, Exxon, and TotalEnergies could place Mozambique among the top 10 global gas producers by 2040.

TotalEnergies, Mozambique and the government of Mozambique still have to resolve pending issues regarding their project known as Mozambique LNG. These include budgets, contract development, and production dates. Sheila Dang, reporting from Houston; Nathan Crooks, David Holmes and David Holmes editing.

(source: Reuters)