The U.S. Exim Bank has approved a $4.7 billion loan to TotalEnergies for the Mozambique LNG project, facilitating its resumption after a four-year delay. This funding is also expected to benefit the adjacent ExxonMobil-operated Rovuma LNG project.
The U.S. Export-Import Bank has re-approved a substantial loan of $4.7 billion for TotalEnergies, the operator of the Mozambique LNG project located in Cabo Delgado. This significant funding represents a crucial advancement toward recommencing the multi-billion-dollar project that has experienced a force majeure status for the past four years. Additionally, this decision may also positively impact the neighboring Rovuma LNG project, which is managed by ExxonMobil.
In summary, the re-approval of the $4.7 billion loan by the U.S. Exim Bank marks a pivotal moment for the Mozambique LNG project and highlights potential benefits for surrounding energy ventures, notably the ExxonMobil-operated Rovuma LNG. This financial support seeks to facilitate the resumption of operations in Mozambique’s energy sector, which has faced considerable delays.
Original Source: www.africa-energy.com
