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
SLB’s Big Boost from Digital Offsets Flat Trends in Oil, E&P
2025-01-20 - SLB’s digital revenue grew 20% in 2024 as customers continue to adopt the company's digital products, artificial intelligence and cloud computing.
Electron Gold Rush: ‘White Hot’ Power Market Shifts into High Gear
2025-03-06 - Tech companies are scrambling for electrons as AI infrastructure comes online and gas and midstream companies need to be ready, Energy Exemplar CEO says.
Digital Twins ‘Fad’ Takes on New Life as Tool to Advance Long-Term Goals
2025-02-13 - As top E&P players such as BP, Chevron and Shell adopt the use of digital twins, the technology has gone from what engineers thought of as a ‘fad’ to a useful tool to solve business problems and hit long-term goals.
BYOP (Bring Your Own Power): The Great AI Race for Electrons
2025-01-06 - Data-center developers, scrambling to secure 24/7 power, are calling on U.S. producers to meet demand as natgas offers the quickest way to get more electrons into the taps.
AI-Shale Synergy: Experts Detail Transformational Ops Improvements
2025-01-17 - An abundance of data enables automation that saves time, cuts waste, speeds decision-making and sweetens the bottom line. Of course, there are challenges.
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.