TotalEnergies CEO Sees US Funding of Mozambique LNG in Weeks

TotalEnergies CEO Patrick Pouyanne has expressed confidence that the United States will provide funding for the Mozambique LNG project within the next few weeks. The French energy giant's investment in the project, Africa's largest foreign investment, has been under force majeure since 2021 due to Islamist militant attacks in towns close to the site. The project's restart has been delayed due to geopolitical uncertainties and security issues in Mozambique.

TotalEnergies has been working to resume the project, with Pouyanne stating that the company is "remobilizing the contractors" and relaunching detailed engineering and project financing. The CEO also confirmed that the company is "not far from having everything set with them," indicating that the project's restart is imminent. The French energy giant is also working to address security concerns, with Pouyanne stating that the company is "monitoring that" and that it wants to avoid bringing people back to the site only to have to evacuate them again.

The Mozambique LNG project is a significant investment for TotalEnergies, with the company holding a 26% stake in the project. The project is expected to have a net benefit of more than $60 billion for Mozambique, which is more than four times the current gross domestic product of the country. The project is also expected to support thousands of American jobs, with the Export-Import Bank of the United States (EXIM) authorizing a direct loan of up to $5 billion to support the export of U.S. goods and services for the project.

However, the project's restart has been delayed due to geopolitical uncertainties and security issues in Mozambique. The conflict in the Cabo Delgado province, where the project is located, has been ongoing since 2017 and has resulted in thousands of deaths and the displacement of hundreds of thousands of people. The project's restart has been further delayed by the disputed presidential election in Mozambique, with the opposition claiming the vote was rigged.

TotalEnergies has been working to address security concerns and ensure the safety of its employees and the project's infrastructure. The company has implemented robust security measures, including providing security personnel, installing security systems, and implementing strict access controls. TotalEnergies has also been working closely with the Mozambican government and local authorities to address security concerns and provide humanitarian aid to the local population affected by the conflict.

Despite the challenges, TotalEnergies remains committed to the Mozambique LNG project and is working to ensure its successful restart. The project's restart is expected to have a significant impact on the Mozambican economy and support thousands of American jobs. With the United States expected to provide funding for the project within the next few weeks, the project's restart appears to be on track.

In conclusion, TotalEnergies CEO Patrick Pouyanne has expressed confidence that the United States will provide funding for the Mozambique LNG project within the next few weeks. The project's restart has been delayed due to geopolitical uncertainties and security issues in Mozambique, but TotalEnergies remains committed to the project and is working to ensure its successful restart. The project's restart is expected to have a significant impact on the Mozambican economy and support thousands of American jobs. With the United States expected to provide funding for the project within the next few weeks, the project's restart appears to be on track.