The joint venture owned by Exxon Mobil (NYSE:XOM), Eni (NYSE:E) and China National Petroleum (NYSE:PTR) submits a development plan for the first phase of the Rovuma LNG project offshore Mozambique.
The plan details the proposed design and construction of two liquefied natural gas trains which will each produce 7.6M tons/year of LNG. XOM will lead construction and operation of natural gas liquefaction and related facilities on behalf of the JV, and Eni will lead construction and operation of upstream facilities.
The companies expect a final investment decision on the project in 2019, with LNG production planned to begin in 2024; marketing activities are progressing, with negotiations on sales and purchase agreements underway.
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