Mozambique Nears Restart of $20B TotalEnergies LNG Project

Mozambique has established the necessary conditions to resume TotalEnergies' $20 billion liquefied natural gas (LNG) project in the Cabo Delgado province, which was suspended in 2021 due to an insurgency attack linked to Islamic State militants. The project, vital to Mozambique's economic future, is expected to generate significant revenue, create jobs, and help alleviate poverty in one of the world's poorest nations. TotalEnergies' CEO Patrick Pouyanne recently met with Mozambique's President Daniel Chapo to discuss restarting operations, with construction preparations now underway amid improved security, though risks remain. The US Export-Import Bank has provided a $5 billion loan to support the project, underscoring its international backing. Market analysts generally hold a positive outlook on TotalEnergies' stock as the company moves forward with restarting the LNG development. The Mozambique LNG project, initially discovered in 2010, has the potential to position Mozambique as a major global gas producer by 2040, with further developments expected from other energy giants like ExxonMobil.