TotalEnergies' return to Mozambique to continue with the liquefied natural gas exploration project is dependent on the government's decision, according to the oil company's CEO, Patrick Pouyanné.

Cited by ReutersIn his opinion, the security situation in Cabo Delgado province, where the project will be developed, is better than before, when the project was suspended.

Valued at more than 20 billion dollars, the project, which was being developed in Area 1 offshore of the Rovuma Basin, was placed in a state of "Force Majeure" following the upsurge in terrorist attacks in the province.

"The security situation has improved. It will be up to the Mozambican government to approve the withdrawal of this force majeure," he said on the sidelines of the World Gas Conference, which is taking place in Beijing, China, between May 19 and 23.

The processing plant will have a capacity of 13.12 million metric tons per year (mtpa).

Total is the operator with a 26.5% stake, followed by Mitsui & Co (8031.T) with 20%, while Mozambican state-owned ENH has 15%. Indian state-owned companies and Thailand's PTTEP hold the rest.