Mozambique has announced plans to start exporting liquefied natural gas (LNG) by 2024.
This is after Total SA secured a $1.9 billion debt facility for the construction of an LNG processing plant in Cabo Delgado province, north of the country.
The financing agreement was signed on July 15, 2020. It becomes the country’s first onshore development.
Mozambique’s northern neighbor, Tanzania, also has a LNG project in the natural gas-rich offshore Ruvuma Basin but it is still waiting for the final investment decision (FID) after the government grants approval. Mozambique’s FID for the $20 billion project was made in June 2019 and building works commenced later in August the same year.
Total SA is leading a consortium of firms in the project that will have a gas plant and an export terminal on the Afungi peninsula.
Total acquired a 26.5 per cent stake in the Mozambique LNG project from Occidental Petroleum for $3.9 billion in September 2019 .
