Exxon Mobil is looking to green its $30 billion liquefied natural gas (LNG) project in Mozambique via carbon capture technology, as well as cut costs for the development, Mozambique's energy minister said on Thursday.
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. . REUTERS/Lucas Jackson/File Photois looking to green its $30 billion liquefied natural gas project in Mozambique via carbon capture technology, as well as cut costs for the development, Mozambique's energy minister said on Thursday.
Exxon's is the biggest of three massive gas projects planned or underway in Mozambique's northernmost province of Cabo Delgado, but the U.S. oil major has delayed its final investment decision following the COVID-19 pandemic and amid an Islamic State-linked insurgency in the region. "The company's focus will be on reducing costs and redesigning the project to capture carbon dioxide," he said, adding it would also seek synergies with TotalEnergies , developing a $20 billion project next door, in a bid to make it both cheaper and cleaner.
However, he added, the company regretted the security situation in Cabo Delgado. The insurgency has killed thousands, forced many times more from their homes and also brought TotalEnergies' project to a grinding halt.
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