A major liquefied natural gas (LNG) project in northern Mozambique has received a long-awaited $4.7 billion direct loan from the Export-Import Bank of the United States (EXIM). The loan will support the procurement, engineering, and construction of the Afungi Peninsula-based LNG plant and associated offshore infrastructure.
Jim Cruse, Acting President of EXIM, confirmed the bank’s commitment to the project, stating, “This authorization fulfills a commitment EXIM made nearly six years ago to the Mozambique LNG project.”
The financing underscores the strategic importance of Mozambique’s LNG sector, with companies like McDermott International leading front-end engineering and design operations. The project will play a crucial role in the country’s economic development and the global energy transition.
Source: OilReviewAfrica.com
