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Mozambique Says Exxon to Approve Giant LNG Project

  • Projects will transform Mozambique’s $15 billion economy
  • Decision could boost President Nyusi’s election campaign
Updated on

Mozambique’s government said Exxon Mobil Corp. will sign off on an initial investment decision for a liquefied natural gas project that could cost as much as $33 billion to build -- the biggest ever in Africa.

A ceremony marking the decision will take place Oct. 8 in Maputo, the capital of the southeast African nation, the Ministry of Mineral Resources and Energy said in a statement Saturday.