Page 5 - GLNG Week 49 2022
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GLNG COMMENTARY GLNG
violations. As a result, it too has fallen behind It’s not exactly clear yet, though, how the US
because of difficulties in restoring stability in super-major will respond. Descalzi said in late
Cabo Delgado. July that Eni’s partners in Rovuma LNG were
“positive” about the FLNG idea and saw this
Need for more gas approach as a feasible workaround for the delays
In practical terms, this means that ExxonMobil stemming from the security situation in Cabo
has been postponing an FID on Rovuma LNG. Delgado. However, ExxonMobil itself has not
However, new incentives have emerged for the commented publicly on the matter, and as of
US giant to push the project forward. mid-July the company was reported to be look-
The Russian invasion of Ukraine has upended ing into the option of using modular techniques
European energy markets, sending EU member to build an onshore LNG plant.
states and European gas buyers on a hunt for new This could indicate that ExxonMobil may
suppliers. Under these circumstances, Rovuma be slow to change course on the Rovuma LNG
LNG – which is designed to be largest of the project, even if the FLNG only served as a tem-
three major gas projects planned for the Rovuma porary solution until the onshore LNG plant
basin, with a production capacity of 15.2mn could be built. If so, that would not necessarily
tonnes per year (tpy), larger in scope than either be a surprise. After all, the company is one of the
Coral South LNG at 3.4mn tpy or Mozambique largest in the world, and it will have accumulated
LNG at 12.88mn tpy – might just be worth the a certain amount of bureaucratic trappings that
trouble. As a shareholder in Rovuma LNG, then, could slow the process of changing course. Even
Eni has good reasons to suggest that ExxonMobil so, it seems that there is at least a conversation
consider a different approach and offer its own underway.
expertise.
Week 49 08•December•2022 www. NEWSBASE .com P5
