$20 Billion Energy Giant Awakens – Mozambique’s Mega LNG Project Roars Back to Life This September
In a major development for global energy markets, Mozambique President Daniel Chapo announced that the massive TotalEnergies-led liquefied natural gas project will resume construction by September, ending a four-year hiatus caused by insurgent attacks in northern Mozambique.
The $20 billion initiative, which involves partners including Mitsui & Co., was suspended in 2021 following security concerns in the Cabo Delgado region. Production is now slated to begin between 2029 and 2030, with the project designed to produce up to 13.12 million tonnes of LNG annually.
Security improvements, bolstered by support from Western countries and neighboring governments, have paved the way for the project’s revival. The venture could catapult Mozambique into the ranks of the world’s largest LNG exporters, potentially becoming the fourth-largest after the United States, Australia, and Qatar.
The LNG will primarily serve Asian energy markets, including customers such as JERA, Tokyo Gas, and Taiwan’s CPC, with financial backing from Japanese governmental agencies. Italy’s energy contractor Saipem also anticipates the project will accelerate toward restart by the end of summer, citing readiness from subcontractors and a phased lifting of force majeure.
Source: Nikkei Asia
