Saipem/Jan De Nul LOI and >$1.3bn of contracts mark Rovuma LNG push toward expected 2026 FID
On 10 September 2026 Saipem and Jan De Nul signed a Letter of Intent with ExxonMobil Mozambique on behalf of the Area 4 partners for upstream EPCI services for Rovuma LNG; industry reporting says the project awarded more than $1.3 billion in contracts within a month as developers prepare for a possible 2026 FID.
The desk brief
On 10 September 2026 Saipem and Jan De Nul signed a Letter of Intent with ExxonMobil Mozambique on behalf of the Area 4 partners for upstream EPCI services for Rovuma LNG; industry reporting says the project awarded more than $1.3 billion in contracts within a month as developers prepare for a possible 2026 FID.
The LOI and recent contracts are concrete project-delivery steps that increase the likelihood developers will reach a Final Investment Decision (FID) if sponsors secure required approvals and financing. If FID occurs, incremental long-term LNG exports would support Mozambique's future FX receipts and could improve the sovereign's medium-term funding profile; however, outcomes depend on the timing of FID, formal contract awards, and sponsor financing, not implied immediate sovereign market re-pricing.
Official Area 4 Final Investment Decision (FID) and government/regulatory approvals expected by end-2026.
Sources & verification
Developing storyFurther independent confirmation is required.
- Saipem and Jan De Nul signed a Letter of Intent for Rovuma LNG offshore project in Mozambiquesaipem.com (opens in a new tab)
- Rovuma LNG Steps Up Contract Awards as Mozambique Project Nears FIDecofinagency.com (opens in a new tab)
Public references supporting this brief.
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- Moz 31Sept 203191.12511.415%
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