TotalEnergies to Revive $20 Billion Mozambique LNG Project, Aims for 2029 Production
French energy giant TotalEnergies has announced plans to resume its $20 billion liquefied natural gas (LNG) project in Mozambique, with production expected to start by 2029. The project, which was suspended in 2021 due to militant violence in the northern Cabo Delgado province, is set to restart following improved security conditions in the region.
According to TotalEnergies CEO Patrick Pouyanné, the company has made significant progress in engineering work despite the halt in construction. “Production will be by 2029,” Pouyanné said, expressing confidence in meeting the target. With a 26.5% stake in the project, TotalEnergies is poised to drive the development forward.
The project involves developing the Golfinho and Atum gas fields and constructing a two-train liquefaction plant with an annual production capacity of 13.12 million metric tons of LNG. The restart is expected to boost Mozambique’s economy and energy exports, creating thousands of jobs and generating substantial government revenue.
Improved security in the region, thanks to efforts by Rwandan and Southern African Development Community troops, has paved the way for the project’s resumption. The US Export-Import Bank has also confirmed financing, strengthening prospects for the project’s restart.
TotalEnergies’ decision to revive the project is a significant vote of confidence in Mozambique’s economic future. The project is expected to contribute substantially to the country’s GDP and government revenue, while also creating new opportunities for local businesses and communities.
The company has emphasized that the project will be developed in a responsible and sustainable manner, with a focus on minimizing environmental impacts and promoting local content. With the restart of the project, TotalEnergies is set to play a major role in shaping the future of Mozambique’s energy sector.#TotalEnergies to Revive $20 Billion Mozambique LNG Project, Aims for 2029 Production#
