TotalEnergies is reportedly planning to resume its delayed Mozambique LNG project in early 2024, as indicated by sources familiar with the matter. The $20 billion liquefied natural gas (LNG) project, in which TotalEnergies holds a 26.5% stake, has faced significant challenges due to the ongoing violence in northern Mozambique, which began in 2017 and has resulted in thousands of casualties.
Sources suggest that TotalEnergies has sought approval from funders to restart the Mozambique LNG project in the first quarter of 2024. The violence in the region has disrupted various investments, including the multibillion-dollar LNG initiative, which is expected to have a transformative impact on Mozambique’s economic prospects.
It’s worth noting that the project has faced criticism from environmental activists, who recently called on funders to withdraw their financial support. Despite these challenges, TotalEnergies seems determined to move forward with the project, with the potential restart seen as a positive development for the economic development of Mozambique. TotalEnergies has not yet responded to requests for comment on the matter.
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Credit: Wendell Roelf Editing by Nick Zieminski