The chairman and CEO of multinational Total Energies said he expects the US Export-Import Bank (EXIM) to finalize the approval of 4.7 billion dollars planned for the financing of its liquefied natural gas (LNG) project in Mozambique in the near future..

The information is contained in a Reuters AgencyThe report notes that the American financial institution said it was analyzing the project to finance approximately 25% of the ongoing project in Cabo Delgado in light of the presidential decrees issued by Donald Trump.

"Exim has rules of non-discrimination in projects, so I think that financing will be restored under the Trump administration, and that US Exim will confirm support for the export of LNG from Mozambique in the coming months, or in the coming weeks," Patrick Pouyanne told journalists on Wednesday (05) in Paris, after releasing the company's fourth quarter earnings.

However, with work having been suspended since 2021 due to attacks by insurgents linked to the Islamic State in Cabo Delgado, Pouyanne added that the project's completion date needs to be pushed back to 2029-2030, from 2027 as previously planned.

The president and CEO of TotalEnergies also revealed that Great Britain, which has pledged between 800 and 1 billion dollars, is trying to see if it has the legal right to leave, but pointed out that it has already signed a financing contract.

Regarding the resumption of work on the 20 billion dollar project to export gas from Mozambique, Pouyanne said that "security has improved, but it will never be perfect".

On January 28, the President of the Republic, Daniel Chapo, said on his X page that he had received a guarantee from Patrick Pouyanne of the French oil company's "commitment" to the resumption of the Liquefied Natural Gas project in Cabo Delgado.

"During the conversation, Pouyanné reaffirmed TotalEnergies' commitment to resuming the project, currently suspended since 2021, due to security challenges in the region," wrote Daniel Chapo, adding that they addressed "the company's progress and commitment to the development of the natural gas exploration project in Cabo Delgado."

"On our side, we reaffirm the importance of the project for Mozambique's economic growth, which is why efforts are being made to guarantee the stability needed for its implementation," said the Mozambican head of state.

(Photo DR)