The Exim Bank of the United States will disburse a five billion dollar loan to the French multinational TotalEnergies for the development of the Liquefied Natural Gas (LNG) exploration project in Area 4 of the Rovuma Basin, in Cabo Delgado province.

The TotalEnergies project has been suspended "Force Majeure" since April 2021, following a terrorist attack in the town of Palma, near the firm's facilities.

Previously, the Export-Import Bank had agreed to a loan of 4.7 billion dollars for the project valued at 20 billion dollars.

TotalEnergies CEO Patrick Pouyanne had already announced that the US government would go ahead with the loan, which he said should be followed in the coming months by other financing partners.

The resumption of the project now depends on the decisions of the export credit agencies in the UK and the Netherlands. (Source: Reuters)