Hopes of become an international energy player have been delayed at least five years as Exxon Mobil put the hold on investing in the vast resource beneath Cabo Delgado.

Exxon Mobil made an intermediate decision last year to invest in the exploitation of liquid petroleum gas in Mozambique.

According to Mozambique analyst Jo Hanlon that was for the benefit of President Felipe Nysui’s election campaign.

Now the real ink on the dotted line has been delayed five years, meaning production cannot start until 2030.

The depression caused by the COVID 19 pandemic has stalled investment everywhere.

Gas prices, which follow oil prices, halved between 2018 and 2019 and then halved again this year as Saudi Arabia and Russia boosted production to push U.S. shale out of the market.

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