The US export credit agency has agreed to provide a US$4.7bn loan for TotalEnergie’s controversial Mozambique LNG project, reinstating its support after years of delays and amid ongoing security risks in the region. At a board meeting last week, the Export-Import Bank of the United States (US Exim) voted to amend its financing agreement for the gas project in the Cabo Delgado province.
On March 14, Estevão Pale, Mozambique’s minister for energy, confirmed the loan had been reapproved. The announcement offers a major boost to Total’s plans to restart the LNG project, which has been paused since 2021 when insurgents known as Islamic State Mozambique attacked a nearby town.
(Source gtreview)
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