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Top French and US oil giants drive $50B LNG expansion in Africa’s rising gas powerhouse

Simon Osuji by Simon Osuji
February 25, 2026
in Business
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Top French and US oil giants drive $50B LNG expansion in Africa’s rising gas powerhouse
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The projects, led by TotalEnergies of France and ExxonMobil of the United States, are expected to generate intense maritime activity, with an estimated 400 vessels per year transporting LNG and condensate from production sites to international markets.

Under recently published tenders, the two concessionaires are seeking “safe, efficient, and reliable transportation, loading, and unloading services” for LNG from Areas 1 and 4 of the Rovuma Basin.

Area 1, part of the Mozambique LNG project, is expected to handle 160 LNG tankers and 10 condensate ships annually, while Area 4, corresponding to the ExxonMobil-led Rovuma LNG, anticipates 220 LNG tankers and 15 condensate ships per year.

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Afungi LNG operations set to reshape Mozambique’s energy landscape

The projects mark a decisive step after investments were suspended due to armed attacks in Cabo Delgado, which led to a declaration of “force majeure” in 2021.

The projects, led by TotalEnergies of France and ExxonMobil of the United States, are expected to generate intense maritime activity, with an estimated 400 vessels per year transporting LNG

In October 2024, TotalEnergies’ consortium lifted the clause, allowing the $20 billion Mozambique LNG project to formally restart. In November, ExxonMobil followed suit, lifting the force majeure for its $30 billion Rovuma LNG project, with the Final Investment Decision expected in 2026.

Once operational, Area 4 is projected to produce 18 million tons per year (mtpa) of LNG, while Area 1 will reach 13 mtpa, with first deliveries scheduled for 2029.

Mozambique already hosts active production through Eni’s Coral Sul floating LNG platform, producing 3.4 mtpa since 2022. The FID for the second unit, Coral Norte, valued at $7.2 billion, was approved in October, doubling production capacity from 2028.

President Daniel Chapo emphasized that construction could begin within 12 to 18 months, supported by strengthened security measures to ensure investment stability.

With the combined scale of these LNG projects, Mozambique is not only ramping up its export capacity but also reinforcing its role as a rising African energy powerhouse, attracting billions in foreign investment and cementing its position on the global LNG map.

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