{"id":4345,"date":"2026-10-30T16:02:22","date_gmt":"2026-10-30T16:02:22","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/30\/exxon-mobil-increases-stake-in-mozambique-gas-project-businessday-ng\/"},"modified":"2026-10-30T16:02:22","modified_gmt":"2026-10-30T16:02:22","slug":"exxon-mobil-increases-stake-in-mozambique-gas-project-businessday-ng","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/30\/exxon-mobil-increases-stake-in-mozambique-gas-project-businessday-ng\/","title":{"rendered":"Exxon Mobil increases stake in Mozambique gas project \u2013 Businessday NG"},"content":{"rendered":"

US energy giant ExxonMobil has increased its stake in the planned Rovuma liquefied natural gas project in Mozambique after a swap with Eni SpA.<\/p>\n

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The Texas oil giant boosted its share of the project to 50%, Chief Financial Officer Neil Hansen said during an interview. The company\u2019s previous stake was 25%.<\/p>\n

In return, Eni will get \u201cdifferent properties there in that area,\u201d Hansen said.<\/p>\n

The companies plan to make a final investment decision in what could be ExxonMobil\u2019s largest-ever operated capital project by the end of the year.<\/p>\n

It comes as the war in Iran has upended global LNG supplies, causing prices into Europe and Asia to soar to near-record highs. While the majority of Rovuma LNG\u2019s projected output already is under contract, Exxon\u2019s upsizing demonstrates a commitment to a project that was halted for more than four years due to regional security threats.<\/p>\n

\u201cWe\u2019re progressing kind of final steps with the government of Mozambique around things like plan and development approval,\u201d Hansen said. \u201cAll that\u2019s progressing well.\u201d<\/p>\n

The project will have the capacity to produce 18.6 million tonnes of LNG per year and could be online by the early 2030s. It\u2019s one of the largest private investments in Mozambique\u2019s history, according to ExxonMobil<\/p>\n

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Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"

US energy giant ExxonMobil has increased its stake in the planned Rovuma liquefied natural gas project in Mozambique after a swap with Eni SpA. Advertisement Advertisement The Texas oil giant… <\/p>\n","protected":false},"author":1,"featured_media":4346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/4345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=4345"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/4345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/4346"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=4345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=4345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=4345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}