U.S. Exim Bank Re-approves $4.7 Billion Mozambique LNG Loan

The U.S. Exim Bank has re-approved a $4.7 billion loan to TotalEnergies for the Mozambique LNG project, essential for resuming operations after four years of force majeure and potentially beneficial for the Rovuma LNG project.

The U.S. Exim Bank has reaffirmed its approval for a $4.7 billion loan to TotalEnergies for the Mozambique LNG project located in Cabo Delgado. This significant decision is viewed as essential for revitalizing the megaproject, which has been in a state of force majeure for the past four years. Furthermore, this approval may also provide a boost for the adjacent ExxonMobil-operated Rovuma LNG project.

In summary, the U.S. Exim Bank’s re-approval of the substantial loan signifies a crucial development for the Mozambique LNG initiative and potentially beneficial impacts for the neighboring Rovuma LNG venture. This action could pave the way for renewed activity in the region after a prolonged period of stasis.

Original Source: www.africa-energy.com