ExxonMobil Holdings Corp. has expanded its presence in Mozambique’s Rovuma liquefied natural gas (LNG) project through a strategic swap with Eni SpA. The Texas-based energy giant increased its stake in the project to 50% from 37.5%, solidifying its role as the operator. The deal was confirmed by Chief Financial Officer Neil Hansen during an interview.
The Rovuma LNG project, located in the Cabo Delgado province, is a key development in Mozambique’s energy sector. The swap with Eni SpA marks a significant shift in ownership, with ExxonMobil now holding a majority share. This move underscores the company’s commitment to the project’s long-term success.
The Mozambique LNG project has been under construction since 2025, with the Afungi site in the Palma district serving as the central hub. The project aims to tap into the region’s vast natural gas reserves, positioning Mozambique as a major player in the global LNG market.