ExxonMobil Eyes Mozambique Expansion Amid Security Concerns

ExxonMobil's CEO Darren Woods recently conferred with Mozambique's President Daniel Chapo to seek guarantees for the security of a proposed $30 billion gas terminal project. This discussion comes ahead of ExxonMobil's decision to proceed with what could be Africa's largest LNG facility.

The talks centered around the persistent threat from jihadist insurgents in Cabo Delgado, a northern province rich in gas resources. Since 2017, militants have posed significant dangers, targeting civilians and impacting ongoing energy initiatives. The discussions included plans by TotalEnergies to resume operations on another regional LNG project.

Despite the concerns, Chapo expressed optimism about the economic impact potential of the ExxonMobil project, emphasizing its transformative promise for Mozambique. An Exxon spokesperson confirmed ongoing collaborative efforts with Total, the Mozambican government, and partners to create conducive conditions for final project commitments.

(With inputs from agencies.)