ExxonMobil has awarded $1.1 billion in contracts for its planned liquefied natural gas (LNG) project in Mozambique, according to reports. The major energy firm committed the capital to advance development of the natural gas resources in the region.
The contracts mark a significant step forward for the long-term energy project, which aims to tap into substantial offshore gas reserves in East Africa to supply global markets. Further details regarding the specific contractors and project timelines were not immediately available.
