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Published On: Mon, Mar 5th, 2018

Exxon Mobil planning to build Mozambique LNG export project

nsnbc : Exxon Mobil is planning to build a Mozambique liquefied natural gas (LNG) export project and is looking to expand operations at its Papua New Guinea and Qatari LNG projects, a senior company official said on Wednesday.

Mozambique, LNG, archivesMozambique is poised to become one of the word’s three leading LNG exporters by the mid-2020s. Exxon Mobil is also concerned by the lack of new LNG project approvals over the past two years even as many projects were cancelled, said Frank Kretschmer, senior vice president of Exxon Mobil Asia Pacific’s LNG Marketing division.

“It is concerning that very little has happened on new final investment decisions over the last two years and at the same time we have seen quite a few projects cancelled,” he said. “Being the most reliable, lowest cost project is the only way to survive industry cycles.”

F/AK – nsnbc 05.03.2018

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