U.S. Exim Bank Re-Approves $4.7 Billion Loan for Mozambique LNG…

U.S. Exim Bank Re-Approves $4.7 Billion Loan for Mozambique LNG Project

Posted On: March 14, 2025
Posted By: Elias Gonzalez
Comments: 0

The U.S. Exim Bank has re-approved a $4.7 billion loan to TotalEnergies for the Mozambique LNG project in Cabo Delgado, crucial for resuming this delayed megaproject under force majeure for four years. This move could also benefit the adjacent ExxonMobil-operated Rovuma LNG project.

The U.S. Export-Import Bank has delivered a crucial re-approval for a $4.7 billion loan designated for TotalEnergies, aimed at revitalizing the Mozambique LNG project located in Cabo Delgado. This funding is vital for the resumption of a megaproject that has encountered four years of operational disruption due to force majeure. Additionally, this decision may provide momentum for the neighboring Rovuma LNG project, which is operated by ExxonMobil.

The re-approval of the $4.7 billion loan by the U.S. Exim Bank signifies a pivotal move towards restarting the Mozambique LNG project, which has faced significant challenges. This development not only supports TotalEnergies but also has positive implications for the ExxonMobil-operated Rovuma LNG project in the region, highlighting renewed confidence in Mozambique’s energy sector.

Original Source: www.africa-energy.com

Elias Gonzalez

Elias Gonzalez is a seasoned journalist who has built a reputation over the past 13 years for his deep-dive investigations into corruption and governance. Armed with a Law degree, Elias produces impactful content that often leads to social change. His work has been featured in countless respected publications where his tenacity and ethical reporting have earned him numerous honors in the industry.