Mozambique $20bn LNG Project Continues Despite Rebels’ Attacks, Total Says

0 203

French oil and gas major, Total has said that it would continue with the $20 billion natural gas (LNG) project in Mozambique, despite growing concerns about a wave of militant attacks by rebels with links to Islamic State.

[Also Read] Total Secures $15bn Debt Financing to Develop Mozambique LNG

Last week, Mozambique applied to the European Union for support in tackling the conflict in the country’s north region, which has raised fears for stability and security in southern Africa.
“The situation is serious,” Total chairperson and CE Patrick Pouyanne told reporters at an event last week. “The project has so far progressed… it’s a major one for the country.”

[Also Read] Cooperation Agreement Signed for Mozambique Pipeline

Total is the operator of the Mozambique LNG project, and obtained a $14.9-billion debt financing package in July to fund its roll-out.
Advertisement.

[Also Read] Mozambique Sets Sights on Capital Gains Tax from ENI, Exxon Deal

The project includes the development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession, and the construction of a two-train liquefaction plant with a capacity of 13.1-million tons a year.

By Chibisi Ohakah, Abuja

More Mozambique Oil and Gas Industry News on Orient Energy Review.


Get more news like this directly in your inbox

Leave A Reply

Your email address will not be published.

Enable Notifications    Ok No thanks