TotalEnergies SE is working to restart its Mozambique liquefied natural gas (LNG) project, which has been on hold since 2021 due to security concerns linked to militant attacks near the development site. Originally estimated at $20 billion, the project aims to process and export Mozambique’s vast natural gas reserves.
To advance the project, TotalEnergies hired Washington-based lobbyist Primus Responsum to push for final approval of a $4.7 billion financing package from the U.S. Export-Import Bank. This funding, initially agreed upon in 2020, represents the largest contribution to the project’s financing. The lobbyist’s role includes urging key individuals within the Biden administration and Exim Bank to approve the funding before January 20, 2025.
TotalEnergies, which holds a 26.5% stake in the LNG development, confirmed that operations in Mozambique remain suspended for now. CEO Patrick Pouyanne reiterated the company’s commitment to the project, noting recent improvements in the security situation. However, TotalEnergies is still awaiting approval from three export-credit agencies before moving forward.
Despite continued uncertainty, the project remains a significant opportunity for Mozambique, promising economic growth through energy exports if development resumes.