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TotalEnergies Pushes Ahead With Mozambique LNG Despite Risks
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OilPrice.com Daily News Update
After a five-year hiatus, French supermajor TotalEnergies is formally relaunching on Thursday the $20-billion Mozambique LNG project at an event led by Mozambique’s President Daniel Francisco Chapo and attended by TotalEnergies CEO Patrick Pouyanné.
The project site is close to the town of Palma in the Cabo Delgado province, where Islamic State-affiliated militants were active for years.
The $20-billion LNG export project was halted nearly five years ago due to a deteriorated security situation.
Mozambique LNG was Africa’s largest foreign investment when announced.
Due to the force majeure, the goal to achieve first LNG production has slipped, first to 2027, and later, to 2029.