The Mozambican energy minister is hopeful about TotalEnergies’ intention to restart the LNG project
Mozambique’s energy minister stated on Friday that the government has not yet received a request from TotalEnergies (TTEF.PA) to lift the force majeure declaration on its $20-billion liquefied natural gas (LNG) project. However, he expressed optimism regarding the oil major’s plans to resume development this summer.
The force majeure will be lifted once the project’s operator assesses that conditions are suitable for resuming operations, Minister of Mineral Resources and Energy Estevao Pale informed reporters in Tokyo following his meeting with Japan’s industry minister, Muto Yoji.
“As a government, we are committed to doing everything possible to resume the project,” Pale stated.
“We are collaborating with all partners on the project to establish the security conditions necessary for its restart,” he stated, noting that security conditions have significantly improved.
Patrick Pouyanne, Chief Executive of TotalEnergies, stated at an energy conference in Tokyo on Wednesday that he anticipates the project will resume development “this summer”.
Since 2021, the Mozambique LNG project has been under force majeure due to insurgent attacks. It encompasses the development of the Golfinho and Atum natural gas fields within the Offshore Area 1 concession, as well as the construction of a two-train liquefaction plant.
The facility is designed to achieve an annual output of 13.12 million metric tons.
The operator of the project is French oil and gas giant TotalEnergies, holding a 26.5% stake, while Mitsui & Co (8031.T) follows with a 20% share.
Mozambique’s state-owned ENH holds a 15% stake, while Indian state companies and Thailand’s PTTEP own the remainder.
