TotalEnergies LNG Project in Mozambique Hits New Financial Snag

TotalEnergies LNG Project in Mozambique Hits New Financial Snag

The government of Mozambique may not agree with the latest estimate for an LNG project led by TotalEnergies, which said earlier this week the price tag for the facility had gone up by $4.5 billion. The French supermajor attributed the cost increase to the four years, during which work on Mozambique LNG was suspended following a deadly attack by Islamist militants that promoted a force majeure. TotalEnergies lifted the force majeure this week but…

Mozambique Leader Says to Negotiate TotalEnergies LNG Cost Hikes

Mozambican President Daniel Chapo said the southeast African nation is considering a proposal by TotalEnergies SE to change the contract period and approve increased costs for its liquefied natural gas project.

TotalEnergies LNG project in Mozambique hits new financial snag

(Oil Price)– The government of Mozambique may not agree with the latest estimate for an LNG project led by TotalEnergies, which said earlier this week the price tag for the facility had gone up by $4.5 billion. The French supermajor attributed the cost increase to the four years, during which work on Mozambique LNG was suspended following a deadly attack by Islamist militants that promoted a force majeure. TotalEnergies lifted the force majeure t

TotalEnergies Confirms Mozambique LNG Project Cost at $20.5 Billion Amid Restart Plans

TotalEnergies CEO Patrick Pouyanne confirmed on Thursday that the company’s Mozambique LNG project will have a total budget of $20.5 billion as it prepares for a potential restart. Pouyanne clarified that media reports suggesting a $25 billion cost were inaccurate, following his letter to the Mozambican president requesting approval for a $4.5 billion increase tied to the project’s four-year suspension under force majeure. Pouyanne explained, “T…