Gas: Total Secures $14 Billion Financing for its Mozambique LNG Project
The French energy group Total has secured financing of 14.4 billion Dollars for its liquefied natural gas project in Mozambique, the Reuters news agency reported on Thursday 21 May. According to the sources quoted by Reuters, the funds raised were obtained via an international banking pool of about twenty financial institutions. However, the names of the banks involved in the financial arrangement were not specified. As for Total, its management has not yet confirmed this information. Acquired in September 2019 along with the other African assets of the American company Anadarko, Total’s 26.5% interest in the Mozambique LNG mega-project, held alongside ENH of Mozambique, Mitsui of Japan and ONGC Videsh of India, should enable the Group to considerably strengthen its gas positions. Production is expected to start in 2024.