London, 8 Feb (AIM) – The directorate of the French oil and gas company, TotalEnergies, which heads the Mozambique LNG project, located on the Afungi peninsula, Palma district, in the northern province of Cabo Delgado, says that the LNG operations may resume, since “the company is not far from having everything ready.”
According to Total Energies CEO, Patrick Pouyanné, speaking in London during the presentation of the company’s 2023 results, cited by the Portuguese News Agency (LUSA), “We’re mobilizing the contractors again and we’re not far away from having everything ready.”
“The last part is the re-financing of the project, which was suspended, let’s say, when there were the events [of terrorism that forced the suspension of the project]”, he added.
According to Pouyanné, what is needed now is to “re-activate the financial institutions around the world, and then when that’s done we’ll restart the project.”
This announcement strengthens the optimism expressed recently by the International Monetary Fund (IMF) and by Mozambican President Filipe Nyusi, arguing that operations may resume early this year as a result of improved security conditions.
In April 2021, TotalEnergies declared force majeure to suspend all activities on the LNG project, due to a major terrorist raid against the town of Palma.
The Mozambique LNG Project, budgeted at 20 billion dollars, began with the discovery of reserves of over 65 trillion cubic feet of natural gas in the Rovuma Basin, which led TotalEnergies and its partners to take a Final Investment Decision in 2019.
The project includes two gas liquefaction units to be built on the Afungi Peninsula, with an expansion capacity of up to 43 million tonnes per year.
(AIM)
Ad/pf (280)
