US Exim Bank Re-Approves $4.7 Billion Loan for Mozambique LNG Project

The US Exim Bank has re-approved a $4.7 billion loan to TotalEnergies for the Mozambique LNG project. This decision is considered key to resuming operations after four years of force majeure and may also positively impact the ExxonMobil-operated Rovuma LNG project.

The United States Export-Import Bank has granted re-approval for a significant loan of $4.7 billion to TotalEnergies, the operator of the Mozambique liquefied natural gas (LNG) project located in Cabo Delgado. This decision marks an important advancement towards resuming the major project, which has been under force majeure for the past four years. Furthermore, this re-approval may also benefit the nearby Rovuma LNG project, managed by ExxonMobil, by providing a boost to its operations and confidence in the region.

In conclusion, the re-approval of the $4.7 billion loan by the US Exim Bank is a crucial development for the Mozambique LNG project, as it aims to revive a project stalled by security issues. Additionally, this may have positive implications for ExxonMobil’s Rovuma LNG, signaling renewed investor confidence in Mozambique’s energy sector.

Original Source: www.africa-energy.com