Exxon seeks security guarantees for $30bn Mozambique project

ExxonMobil is negotiating with Mozambique’s President Daniel Chapo for security guarantees on its $30 billion Rovuma LNG terminal in Cabo Delgado, where an Islamist insurgency threatens Africa’s largest planned liquefied natural gas project.

Source Financial Times

Talks also covered French group TotalEnergies’ plans to resume work on a nearby LNG site frozen after deadly militant attacks in 2021. Mozambique’s government, backed by Rwandan forces, pledged stronger protection for key facilities, though violence in the region has recently surged again.

The Rovuma LNG project aims to produce 18 million tonnes of gas annually. Environmental groups warn that restarting operations could endanger local communities, but officials argue Exxon and Total’s investments will deliver a major economic boost for Mozambique.