Mozambique: ExxonMobil to lead on onshore gas plant

ExxonMobil and Eni signed a sale and purchase agreement on 9 March enabling the US supermajor to take an indirect 25% stake in Area 4 for $2.8bn in cash. Eni will continue to lead on the Coral South floating liquefied natural gas project, while ExxonMobil will lead the construction and operation of natural gas liquefaction facilities onshore. “This operating model will enable the use of best practices and skills within Eni and ExxonMobil with each company focusing on distinct and clearly defined scopes while preserving the benefits of a fully integrated project,” Eni said.