Exxon Targets First LNG from $30 Billion Mozambique Project by 2030

Exxon Mobil projects the first LNG output from its $30 billion Mozambique project by 2030, with early site work slated to begin next year. The final investment decision is expected in 2026.

(Reuters) — Exxon Mobil is expecting the first liquefied natural gas (LNG) output from its project in Mozambique in 2030, a company executive said on Thursday.

Exxon along with partners including Eni ENI.MI and China's CNPC are developing an LNG project in northern Mozambique, with the U.S. energy giant leading the construction and operation of the onshore liquefaction and related facilities.

"We will most likely next year start some early works in (the) Afungi (site) to get things going, keep it on track and allowing us to get first LNG (production) in 2030," Frank Kretschmer, general manager at the company's Mozambique unit, told delegates at an energy conference in Cape Town.

The company said on Wednesday that it now expected a final investment decision for its Rovuma LNG project in Mozambique in early 2026. The cost of the project is estimated at about $30 billion.