TotalEnergies’ Southern African LNG project had been delayed after unrest in Mozambique. (Source: Shutterstock)
U.S. President Donald Trump’s administration picked up where it left off on a TotalEnergies LNG project in Mozambique, with the U.S. Export-Import Bank (EXIM) approving a $4.7 billion loan on March 14, according to a report from Reuters.
The EXIM bank approved the loan for the project during Trump’s first administration. However, TotalEnergies pushed the brakes on the project in 2021, following unrest in Mozambique that threatened security at the site. Security at the site has since improved, according to partner company Mitsui.
TotalEnergies has a 26.5% operating stake in the project. More than 40% of contracts for the project have been awarded to U.S. companies and contractors, TotalEnergies Patrick Pouyanne said in an interview with Bloomberg.
Confirmation of the financing came after multiple appointments to the bank by the Trump administration over the last couple of weeks, according to Reuters.
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