Africa-Press – Mozambique. Mozambican president Daniel Chapo said yesterday, after meeting with Patrick Pouyanné. that he received from the TotalEnergies CEO assurances of the French oil major’s “commitment” to resuming the liquefied natural gas project in Cabo Delgado,
“During the conversation, Pouyanné reaffirmed TotalEnergies’ commitment to resuming the project, currently suspended since 2021 due to security challenges in the region,” wrote Daniel Chapo in a message on his official X social media account.
Chapo’s meeting with the TotalEnergies CEO took place on Monday and, according to the president, allowed him to discuss “the company’s progress and commitment to developing the natural gas exploration project in Cabo Delgado”, suspended almost four years ago due to terrorist attacks in the northern province.
“We reaffirm the importance of the project for Mozambique’s economic growth, and we are therefore making efforts to ensure the stability needed for its implementation,” said the Mozambican Head of Sttate.
Nesta Segunda-feira, 27.01, conversámos com o CEO da TotalEnergies, Patrick Pouyanné, com o qual discutimos sobre o progresso e o compromisso da empresa com o desenvolvimento do projecto de Gás Natural Liquefeito (LNG) em Cabo Delgado.
Durante a conversa, Pouyanné reafirmou o… pic.twitter.com/kyarZCoJ9k
— Presidente Daniel Chapo (@daniel_chapo24) January 27, 2025
The chairman and CEO of TotalEnergies had confirmed last October that almost 80% of the US$14 billion needed for the mega gas project in Cabo Delgado had been secured and that he intended to meet the new Mozambican president in Maputo that month.
The meeting did not take place at that time, the period being been marked by violent social unrest and post-election demonstrations contesting the results.
Mozambique: TotalEnergies chair guarantees gas project will restart
At a meeting with investors in October, Patrick Pouyanné acknowledged “progress on the ground” in the fight against the terrorism which had in 2021 led TotalEnergies to suspend its investment in Cabo Delgado, and highlighted Mozambique’s “alliance” with Rwanda to ensure security on the Afungi peninsula, where the project is building.
“There is an election in Mozambique [general elections on 9 October], and a new president will be inaugurated. I myself intend to visit Mozambique at the end of the month to meet with him, to discuss how the new Mozambican authorities intend to maintain this alliance with Rwanda,” Pouyanné announced at the time.
Pouyanné added at the same time that the project for that area, “inherited from Anadarko” – TotalEnergies bought that oil company’s 26.5% stake in Mozambique LNG (Area 1) in 2019 for US$3.9 billion (€3.7 billion) – had a “quite large” financing package of around US$14 billion (€13.4 billion), and that, of that total, “70 to 80%” had been “confirmed” by the financiers.
“They are committed to this and we are waiting for three of them to also confirm their commitment, because it is important. And some of them are in Western countries where, I would say, the position regarding the financing of energy projects, of oil and gas projects has changed. But they all tell us, they repeat to us, that they are committed to the contract they signed. Therefore, we are waiting for the green light for this financing,” he explained, reiterating that they were only waiting for this confirmation to “restart the project”.
The objective, he insisted, is to start production of liquefied natural gas (LNG) in Afungi in 2029, which implied that the forecast “restarting the project in 2024” would not happen.
Mozambique has three approved development projects for the exploration of the natural gas reserves of the Rovuma basin, classified as among the largest in the world, off the coast of Cabo Delgado.
TotalEnergies, leader of the Area 1 consortium, is currently developing the construction of a plant in Afungi, near Palma, for the production and export of natural gas.
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