A study by Standard Bank estimates that Mozambique’s Rovuma LNG project could contribute as much as $11 billion annually to the country’s economy, equivalent to roughly 60% of its current gross domestic product. The project, led by ExxonMobil, is expected to create around 151,000 jobs, generate nearly $4 billion in annual tax revenue, and improve Mozambique’s balance of payments by approximately $9 billion each year. The analysis also projects higher household incomes and faster economic growth, while the country’s sovereign wealth fund could accumulate assets worth up to $81 billion by the end of ExxonMobil’s concession period in 2056. ExxonMobil describes the $30 billion development as the largest commercial project in Africa’s history. Following years of delays caused by Islamist violence in Cabo Delgado, a final investment decision is expected later this year, with production targeted for 2030.
Ecofin Agency
