Exxon and its partners are seeking to build a two-train liquefied natural gas project in Mozambique.

Achieving a final investment decision (FID) however has hit a significant snag.

According to Upstream Online, Exxon has asked two groups seeking the multi-billion-dollar contract to revise their prices as original bids exceeded original budgeted figures.

The article indicates that the revised bids are expected in several weeks. Which will inevitably delay FID until at least September.

According to the Exxon website, the project aims to develop the deepwater Area 4 block which contains more than 85 trillion cubic feet of natural gas. This site will provide resources for a world-class LNG project in which the partners expect to invest tens of billions of dollars.

At this stage ExxonMobil and its partners are jointly optimizing development plans and determining key milestones such as final investment decision (FID) and startup timing.

Exxon indicated that the discovery of huge natural gas deposits has the potential to transform Mozambique.  It paves the way for the country to become a leading regional LNG exporter and a major global energy player.