XOMNew deal, same giant LNG dream
ExxonMobil just picked up a letter of intent from McDermott for engineering work tied to the Rovuma LNG project. In plain English: the project is still in the planning-and-paperwork phase, but it’s moving forward enough to put actual engineering muscle behind it.
Why investors should care
For Exxon, LNG is one of those big, slow-burn bets that can turn into serious cash flow if it gets built on schedule. A LoI isn’t the same as a final investment decision — think of it more like putting the architect on speed dial than pouring the concrete — but it does signal momentum.
The bigger picture
Rovuma LNG has long been one of those giant energy projects that sounds more fictional than financial. Every incremental step matters because mega-projects live and die on execution, timing, and capital discipline. If this keeps advancing, it could add another long-term growth lane for Exxon’s gas portfolio.
Big picture: not an immediate catalyst, but definitely the kind of breadcrumb investors watch when they’re trying to figure out whether a mega-project is becoming a real project.