US Exim Bank Re-Approves $4.7 Billion Loan for Mozambique LNG Project

Posted On: March 14, 2025
Posted By: Elena Garcia
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The US Exim Bank has re-approved a $4.7 billion loan for TotalEnergies, facilitating the revival of the Mozambique LNG project, which has been inactive for four years due to force majeure. This decision may also positively affect the ExxonMobil-managed Rovuma LNG play.

The United States Export-Import Bank has granted re-approval for a substantial loan amounting to $4.7 billion to TotalEnergies, the operator of the Mozambique LNG project located in Cabo Delgado. This decision is regarded as an essential milestone towards the revival of the megaproject, which has remained suspended under a force majeure declaration for the last four years. Furthermore, this funding initiative is anticipated to positively impact the nearby Rovuma LNG venture, managed by ExxonMobil.

The re-approval of the $4.7 billion loan by the US Exim Bank for TotalEnergies marks a significant advancement in restarting the Mozambique LNG project after a prolonged hiatus. This development not only signifies a revival for the project itself but also holds promising implications for the adjacent ExxonMobil-operated Rovuma LNG project.

Original Source: www.africa-energy.com

Elena Garcia

Elena Garcia, a San Francisco native, has made a mark as a cultural correspondent with a focus on social dynamics and community issues. With a degree in Communications from Stanford University, she has spent over 12 years in journalism, contributing to several reputable media outlets. Her immersive reporting style and ability to connect with diverse communities have garnered her numerous awards, making her a respected voice in the field.