ExxonMobil and bp Highlight Significant African LNG Projects at African Energy Week (AEW) 2024

At the African Energy Week: Invest in African Energies conference, global energy giants ExxonMobil and bp reinforced their commitment to oil and gas investments in Africa, as reported by several news agencies. Both companies highlighted plans for major liquefied natural gas (LNG) projects to meet the continent’s growing energy demand and emphasized their interest in forming new partnerships.

ExxonMobil is leading the Rovuma LNG project in Mozambique, one of its largest African investments, which is expected to produce 18 million tons per annum (MTPA) of LNG. Frank Kretschmer, General Manager of ExxonMobil Mozambique, indicated that the company is aiming for a final investment decision by early 2026. “Rovuma LNG represents an outstanding concept from a technology standpoint and is designed to significantly reduce greenhouse gas emissions,” Kretschmer stated. The construction phase of the project is anticipated to stimulate local business, create thousands of jobs, and enhance skills development in the area. ExxonMobil estimates that providing 15 million British thermal units (BTUs) per person annually could help address clean cooking, electricity needs, and reduce energy poverty. Global gas demand is projected to grow by 20% by 2050, primarily due to population growth and economic development in emerging markets.

Kretschmer also highlighted ExxonMobil's broader vision, stating, “All energy scenarios require a full suite of energy solutions. Our goal is to provide continued access to affordable energy while reducing emissions. Through our new low-carbon initiatives, we are paving the way for a carbon-reduction industry.” He emphasized the company’s commitment to developing a resilient upstream portfolio, noting that significant investments would be made to achieve this goal.

bp, on the other hand, is focusing on the Greater Tortue Ahmeyim (GTA) project, a significant offshore LNG venture situated between Senegal and Mauritania. This project, expected to produce 2.3 MTPA over a 20-year span, is now transitioning from construction and commissioning to the first operational phase, with start-up anticipated later this year. The GTA project, one of the most advanced in the region, includes a floating production storage and offloading (FPSO) unit the size of two football fields and one of Africa's deepest subsea systems.

Dave Campbell, Senior Vice President at bp for Mauritania and Senegal, acknowledged the project’s complexity, noting the need to harmonize regulations across two countries. "The GTA project is innovative and brimming with opportunity. With the support of our partners and governments, we are finding practical solutions together,” Campbell explained. He further stressed Africa’s growing importance in the global energy landscape and underscored bp’s focus on advancing local content. In support of regional workforce development, bp has initiated a four-year training program for 47 Mauritanian and Senegalese technicians, preparing them as future engineers for the energy industry.