Area 4 co-venture secures LNG offtake commitments

Area 4 co-venture secured LNG offtake commitments from buyers affiliated by the partners. The participants of the area 4 co-venture are ExxonMobil, Eni, China National Petroleum Corporation (CNPC), Empresa Nacional de Hidrocarbonetos, Kogas and Galp.

The ExxonMobil, Eni and CNPC created a joint venture, the Mozambique Rovuma Venture S.p.A., and holds 70% stake of the project. Empresa Nacional de Hidrocarbonetos, Galp and Kogas, on the other hand, each hold a 10 % interest.

The commitments will be subject to the approval of full agreements by the government of Mozambique. The first phase of the Rovuma LNG project was submitted to the government by the Mozambique Rovuma Venture in July 2018.