ExxonMobil is close to lifting the force majeure on its Rovuma LNG project in Mozambique, a key step toward resuming development of one of the world’s largest liquefied natural gas ventures, Chief Executive Officer Darren Woods said.
Speaking in São Paulo during the COP30 climate summit, Woods told Bloomberg that the company will move ahead “fairly quickly” with a final investment decision once the force majeure has ended. “We took the time to focus really on the project development and refine the design and come up with what we thought was the best concept,” Woods said. “That work has been going. So I think we’ll be able to advance fairly quickly after force majeure is lifted to get into FID-ing the project and moving things along quickly.”
The force majeure was put in place in 2021 after Islamic State-linked militants attacked the nearby town of Palma in northeast Mozambique, halting progress for several years. TotalEnergies SE, which is working on a similar LNG project in the same region, is also lifting its suspension.
Together, the Exxon and TotalEnergies developments are expected to transform the economy of Mozambique, one of the world’s poorest nations, while supplying gas to global markets for decades to come.
Woods said Exxon expects to lift the force majeure “in the very near future.” He added that during the suspension, the company continued to refine the design to ensure the best development approach.
He also discussed Exxon’s broader strategy to secure low-cost resources to replace the 4.7 million barrels it produces each day and its intention to meet oil and gas demand at least through 2050, even as global efforts to transition away from fossil fuels continue.
Source: Bloomberg (10 November 2025)
