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ExxonMobil just announced its corporate plan to 2030 saying it expects to deliver incremental growth potential of $20 billion in earnings and $30 billion in cash flow driven by investing in competitively advantaged opportunities.
ExxonMobil has four “world-class” LNG projects under development.
The addition of these projects further expands the company’s global LNG footprint and market access.
ExxonMobil said it expects to achieve first LNG sales from the Golden Pass development in the United States and from the Qatar North Field East expansion project near the end of 2025.
The company also said it is targeting final investment decisions at Papua New Guinea’s Papua LNG project in 2025 and at Mozambique’s Rovuma development in 2026.
LNG projects
Japan’s Chiyoda and US-based CB&I recently reached a deal with Golden Pass LNG, a joint venture owned by QatarEnergy and ExxonMobil, to complete the construction of the first liquefaction at the giant LNG export plant in Texas.
State-owned QatarEnergy owns a 70 percent stake in the Golden Pass LNG project with a capacity of more than 18 mtpa and will offtake 70 percent of the capacity, while ExxonMobil has a 30 percent share.
ExxonMobil and its partners recently also awarded the front-end engineering design (FEED) contracts for the Rovuma LNG project in Mozambique.
ExxonMobil is leading the construction and operation of the liquefaction and related facilities on behalf of Mozambique Rovuma Venture (MRV), a joint venture that includes Eni and CNPC, and Eni is leading the construction and operation of the upstream facilities.
The LNG plant will have an overall production capacity of 18 mtpa.
As per Papua LNG, TotalEnergies has a 37.55 percent operating stake in the LNG project, ExxonMobil has 37.04 percent, Australia’s Santos owns a 22.83 percent interest, and Japan’s JX Nippon holds 2.58 percent.
The project calls for the design of about 4 million tonnes per year of liquefaction capacity adjacent to the existing PNG LNG processing facilities, operated by ExxonMobil and located 20 kilometers northwest of Port Moresby, Papua New Guinea.
The facility will receive supplies from the Elk-Antelope gas field.
Also, the project includes the use of 2 million tonnes per year of liquefaction capacity in the existing trains of PNG LNG.
ExxonMobil holds a 33.2 percent operating interest in PNG LNG.
The LNG terminal can produce more than 8.3 million tonnes of LNG annually, an increase of 20 percent from the original design specification of 6.9 mtpa.