Maputo, 19 Apr (AIM) – The American oil and gas company ExxonMobil is mobilizing financial resources in order to resume its projects in the northern Mozambican province of Cabo Delgado, according to Mozambican President Filipe Nyusi.
Nyusi was speaking to reporters on Thursday, during his visit to the United States in the context of the International Conference on the Management of the Miombo Forest.
ExxonMobil is leading the construction and operation of all future natural gas liquefaction and related facilities for the Area 4 deep water block off the Cabo Delgado coast, operated by Mozambique Rovuma Venture (MRV), a joint venture owned by ExxonMobil, the Italian energy company ENI, and CNPC of China.
According to the President, ExxonMobil considered last July that investment in Mozambique’s natural gas is on track for a Final Investment Decision in 2025, with production starting at the end of the decade.
“They were also more interested in the security situation [considering the Islamist terrorism that has been plaguing some regions of Cabo Delgado]. ExxonMobil is keen to get back to work”, he said.
According to Nyusi, ExxonMobil has guaranteed that the investment in Mozambique’s natural gas is on track for a Final Investment Decision in 2025, which means that it may start functioning before 2030.
“The Mozambican government is holding almost permanent talks with the multinational. They’re at the stage of mobilizing resources and funding”, he said.
Regarding the Conference on the Miombo Forest, according to the President, a Letter of Intent was drawn up, which highlights the principle of permanent funding and the management of the existing areas of Miombo Forest.
The miombo formation makes up the largest dry tropical forest ecosystem in Africa, being a source of water, food, shelter, timber, electricity generation and tourism.
“This document calls on the signatory countries of the Maputo Declaration on the Miombo Forest [an agreement signed in 2022 to establish priorities for the sustainable management and governance of the natural resources of the Miombo ecosystems], and the key players to protect the existing areas of miombo and make room for the creation of new ones”, the President said.
The document, he added, emphasizes the importance of financing projects in the protection zones, focusing particularly on small and medium-sized companies geared towards biodiversity businesses.
(AIM)
dt/Ad/pf (386)
