The African Energy Chamber (AEC) has expressed gratitude to the Trump administration for its role in advancing the Mozambique LNG project, a major initiative led by TotalEnergies.
The U.S. Export-Import Bank’s approval of a $4.7 billion loan for the project provides a crucial boost to one of Africa’s largest energy investments. Initially approved during Trump’s first term, the funding underscores the importance of U.S. leadership in promoting energy security and economic development in Africa.
The Mozambique LNG project, which has been on hold since 2021 due to security concerns in the Cabo Delgado province, is now set to resume. With an estimated 65 trillion cubic feet of recoverable natural gas, the project could transform Mozambique’s economy while supplying energy to international markets. The final investment decision for the $20 billion project was made in 2019, and it aims to produce 13 MTPA of LNG, with an expansion potential of up to 43 MTPA.
The project is expected to generate significant economic benefits, including job creation in both Africa and the U.S., where American subcontractors will receive up to 30% of the contract value. The AEC has urged continued collaboration between governments, investors, and development partners to ensure the project’s success.
Source: World Oil
