Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Delayed $20 billion Mozambique LNG project restart in sight

    Delayed $20 billion Mozambique LNG project restart in sight

    May 24, 2023
    Share
    Facebook Twitter LinkedIn WhatsApp

    London — TotalEnergies SE and partners in a liquefied natural gas (LNG) project in Mozambique agreed to contribute millions of dollars into the local economy, signaling that the long-delayed development may soon get under way again.

    The companies will set up a $200 million foundation to foster economic growth, Total said Tuesday. The French firm, keen to resume construction after an Islamic State-linked insurgency forced a halt over two years ago, also cited an independent report showing improvements in the local humanitarian situation.

    Total is “one step closer to a Mozambique LNG restart,” analysts at Jefferies said in a research note. “The human rights report confirms improvements in the security conditions in the Cabo Delgado area while providing validation of the Mozambique LNG project relating to its social impact.”

    The Mozambique LNG venture, 26.5% owned by Total, will set up a dedicated foundation for socioeconomic development in Cabo Delgado, the company said in a statement. It also said arrangements for the relocation of local families and associated compensation will be re-examined, and payments accelerated.

    The $20 billion LNG project — an amount surpassing Mozambique’s entire gross domestic product — could be transformational for the country, but progress has been stymied by waves of militant attacks.

    Following improvements in the security situation over the past year, the report “recommends reviewing the framework of relations between Mozambique LNG and the Mozambican Defense Forces,” Total said. “Mozambique LNG has started a dialogue with the Mozambican authorities to this end.”

    Total said back in February it would consider resuming construction depending on the findings of the report, but the focus now turns to costs. The partners’ outlay must not increase following the two-year hiatus, Total said last week — potentially a difficult ask since global inflation has surged.

    *Francois de Beaupuy – Bloomberg

    Follow us on twitter

    Related News

    Nigeria, Equatorial Guinea advance GoG gas pipeline project with new roadmap

    NNPCL, UTM FLNG seek speedy FID on 1.8m tonnes project

    Mozambique energy minister optimistic on TotalEnergies’ plan to resume LNG project

    E-book
    Resilience Exhibition

    Latest News

    Golar LNG reaches crucial milestone for Greater Tortue Ahmeyim project

    June 23, 2025

    Empowering solutions for South Africa’s energy future

    June 23, 2025

    AEW 2025 promotes Africa-centric energy transition with dedicated program track

    June 23, 2025

    Rivers State to support enhanced maritime security

    June 23, 2025

    Shell faces legal storm over pollution after N/Delta onshore exit

    June 23, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.