8 May 2024
High stakes: Future of Mozambique LNG hinges on lenders’ view of insurgency
Publication date: 20 March 2024
Gas Strategies Group
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ISSN: 0964-8496
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TotalEnergies’ hopes of resuming construction on its LNG project in Mozambique peaked at the end of 2023 as security concerns appeared to have eased, talks with engineering contractors closed in on agreement and most offtake contracts remained in place. Then came a resurgence of political violence in the northernmost province of Cabo Delgado, where the project is located, which began in December and continues today. Restart around the middle of this year now depends on whether lenders will provide project finance – and that looks increasingly uncertain as conflict spreads.