• ExxonMobil eyes 2026 FID for $30B Rovuma LNG as security improves
• TotalEnergies begins lifting force majeure on nearby Mozambique LNG project
• Rovuma Basin holds 85 Tcf gas; key to ExxonMobil’s global LNG strategy
  

ExxonMobil Corp. now believes progress is possible on its Rovuma LNG project in northern Mozambique, as efforts continue to lift force majeure on TotalEnergies’ neighboring Mozambique LNG project.

In comments reported by international media on Friday, October 31, ExxonMobil CEO Darren Woods said the Mozambican project was “in a very good position,” adding that security conditions in Cabo Delgado province are gradually improving after years of instability. ExxonMobil expects to reach a final investment decision (FID) in early 2026 for the $30 billion project.

TotalEnergies suspended its $20 billion LNG project in 2021 following an attack on the Palma site. The French company said it began gradually lifting the force majeure in late October 2025, a key step toward restarting operations.

Both projects are located in the offshore Rovuma Basin and share key infrastructure, including a planned onshore liquefaction facility at Afungi. This shared setup is allowing ExxonMobil to review its project schedule. In late September, Woods met with Mozambican President Daniel Chapo in New York to secure safety assurances before resuming work, according to the Financial Times.

Proven reserves in the Rovuma Basin exceed 85 trillion cubic feet (Tcf) of gas, according to Mozambique’s Ministry of Natural Resources, making the country one of Africa’s most resource-rich.

Reviving the Rovuma LNG project is central to ExxonMobil’s strategy to strengthen its position in the global liquefied natural gas (LNG) market. The International Energy Agency (IEA) said global gas consumption rose 2.7% in 2024, or 115 billion cubic meters, driven by recovering demand in Asia and rising LNG exports to Europe. The agency expects another 1.3% increase in 2025, supporting ExxonMobil’s bet on sustained LNG growth.

Abdel-Latif Boureima