TotalEnergies CEO Announces $20 Billion Mozambique LNG Project to Resume “This Summer”
In a major development for the global energy sector, TotalEnergies Chief Executive Patrick Pouyanne announced Wednesday that the company’s massive $20 billion Mozambique liquefied natural gas project is expected to restart development operations “this summer.” The project has been under force majeure since 2021 following devastating insurgent attacks that halted all operations.
The ambitious project encompasses the development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession, along with construction of a two-train liquefaction plant capable of producing 13.12 million tonnes per annum. TotalEnergies operates the project with a 26.5% stake, while major partners include Mitsui Co with 20% and Mozambique’s state-owned ENH holding 15%. Indian state firms and Thailand’s PTTEP own the remaining stakes.
The resumption of this mega-project signals a potential turning point for Mozambique’s energy sector and could significantly impact global LNG supply chains as markets continue to seek energy security.
Source: Reuters
