Mozambique’s $20 Billion LNG Giant Set for Summer Restart After Four-Year Shutdown
TotalEnergies and its partners are racing to restart construction on Mozambique’s massive $20 billion LNG project before summer’s end, marking a potential turning point for one of Africa’s most ambitious energy ventures that has been stalled since 2021.
The project, which includes developing the Golfinho and Atum natural gas fields and building a two-train liquefaction plant with 12.8 million tons per annum capacity, was suspended in April 2021 following insurgent attacks that forced the evacuation of all personnel.
TotalEnergies CEO Patrick Pouyanne confirmed the company is working intensively with the Mozambique government to ensure “very strong alignment between the government of Mozambique and the investors” before re-engaging on the project. The restart timeline points to operations beginning by 2029.
Italy’s Saipem, holding a €3 billion contract for the project, expects the force majeure to be lifted as part of the progression of restart activities. The contractor’s CEO Alessandro Puliti downplayed security concerns, noting that equipment transport by sea is primarily for logistical rather than security reasons.
The project’s revival comes after the Export-Import Bank of the United States reapproved a $4.7 billion loan earlier this year, providing crucial financial backing for the venture that involves partners including Japan’s Mitsui, Thailand’s PTT, and several Indian firms.
Sources: oedigital.com, clubofmozambique.com
