Exxonmobil's gas project will continue, senior company sources assure

After the assurance given by the Mozambican authorities a few days ago, now it was the turn of the company itself to do the same. The North American oil company ExxonMobil continues to focus on hydrocarbons and has plans to proceed with a $30 billion liquefied natural gas project in Mozambique, says the company's CEO, Darren Woods.

"I wouldn't put much faith in the market rumors you hear," Exxon Mobil's CEO said during the conference held with analysts, quoted by the Bloomberg financial information agency.

"We have been in hydrocarbons for over 130 years...it is the core part of our business and will be for a long time," Exxon senior vice president Neil Chapman said at another conference in the Italian city of Verona, quoted by Reuters news agency.

Chapman also reported that the group has not changed its plans on multi-billion dollar gas investments in Mozambique and Vietnam.

"We don't know the date (for the final investment decision in Mozambique) now, but there is no change and what was reported in the American press was not correct," he added.

 "There are a lot of people talking and most of them don't have a good understanding of the discussions we're having," the multinational's CEO again mentioned, also admitting that there was a "slippage" in the established deadlines, namely regarding the Final Investment Decision (DFI), the moment from which the bet is practically irreversible.

It should be noted that Exxon has already spent 2.8 billion dollars to acquire a major position in the Rovuma project. This is the largest natural gas exploration project in Sub-Saharan Africa, but it has been postponing the final decision on the investment for several years, which according to the Mozambican government, may be between 27 and 33 billion dollars.

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