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.
Recommended Reading
E&Ps Pivot from the Pricey Permian
2025-02-01 - SM Energy, Ovintiv and Devon Energy were rumored to be hunting for Permian M&A—but they ultimately inked deals in cheaper basins. Experts say it’s a trend to watch as producers shrug off high Permian prices for runway in the Williston, Eagle Ford, the Uinta and the Montney.
Tamboran, Falcon JV Plan Beetaloo Development Area of Up to 4.5MM Acres
2025-01-24 - A joint venture in the Beetalo Basin between Tamboran Resources Corp. and Falcon Oil & Gas could expand a strategic development spanning 4.52 million acres, Falcon said.
Blackstone Buys NatGas Plant in ‘Data Center Valley’ for $1B
2025-01-24 - Ares Management’s Potomac Energy Center, sited in Virginia near more than 130 data centers, is expected to see “significant further growth,” Blackstone Energy Transition Partners said.
Huddleston: Haynesville E&P Aethon Ready for LNG, AI and Even an IPO
2025-01-22 - Gordon Huddleston, president and partner of Aethon Energy, talks about well costs in the western Haynesville, prepping for LNG and AI power demand and the company’s readiness for an IPO— if the conditions are right.
E&P Highlights: Dec. 30, 2024
2024-12-30 - Here’s a roundup of the latest E&P headlines, including a substantial decline in methane emissions from the Permian Basin and progress toward a final investment decision on Energy Transfer’s Lake Charles LNG project.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.