Growing risks for $50bn Mozambique LNG projects
The worsening security situation is raising the risk of further delays but did not prevent the signing a $15bn debt financing agreement
French oil and gas company Total is facing increased security concerns at its $20bn Mozambique liquefied natural gas (LNG) project. The company has been removing staff from the project site as a three-year old Islamist militant insurgency in the northern province of Cabo Delgado escalates.
Total’s Mozambique LNG plant is one of two projects on the Afungi Peninsula. The other is ExxonMobil’s Rovuma LNG project. Both are intended to involve $50bn of investment — the largest industrial investment in Africa...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.