\n\t\t\t<\/span>\n<\/li>\n<\/ul>\n<\/div>\nMozambique is expected to become one of the world\u2019s largest LNG exporters. Its gas represents an important source of LNG supply diversification. The project will boost the country\u2019s ability to meet energy demand through gas-fired electricity and will support its ambitious goal to provide universal access to energy to its citizens by 2030. The project can also potentially feed downstream industries that use natural gas, such as fertilizer and electricity producers. It can thus become an engine for agricultural development and trade across the Southern African Development Corporation region.<\/p>\n
PFI is the leading source of intelligence on global project finance. In its award announcement, it noted that the project had faced many challenges in securing financing, including the COVID-19 pandemic.<\/p>\n
\u201cI still find it remarkable how so many project financings were transacted this year,\u201d including the Mozambique LNG deal, said PFI\u2019s Editor Rod Morrison.<\/p>\n
\u201cThe multilaterals played a key role in getting the project financed,\u201d Morrison said. In addition to the African Development Bank, PFI cited the participation of United States Export Import Bank and Japan Bank for International Cooperation as critical.<\/p>\n
In addition to loan financing, the Bank played a lead role in ensuring the project\u2019s compliance with strict environmental and social standards. It also invested in strengthening the capacity of small and medium enterprises to enter the project\u2019s supply chains and promote good standards of governance and transparency in Mozambique.<\/p>\n
Dr. Akinwumi A. Adesina, President of the African Development Bank, said: \u201cI am delighted with the award of the Global Multilateral Deal of the Year 2020 to the African Development Bank and the Government of Mozambique LNG Area 1 Project, by Project Finance International. This great recognition reinforces the African Development Bank\u2019s leadership and role in helping to structure financing and attract investments to Africa. The $24 billion project, which was structured at the Bank\u2019s Africa Investment Forum, is Africa\u2019s largest foreign direct investment. We will work with all partners to ensure that this project helps to unlock greater economic growth for Mozambique and benefits millions of people in the country, while building climate resilience.\u201d<\/p>\n
Overall, the project aligns with a number of the African Development Bank\u2019s strategic goals and its country strategy for Mozambique and for Southern Africa. These goals include boosting employment, expanding universal electricity access and leveraging natural resource development for investment in sustainable infrastructure.<\/p>\n
Fernando Balderrama, Chief Investment Officer with the Bank, said: \u201cWe are excited about the growth and industrialization opportunities created through this project for the Mozambican population.\u201d He added: \u201cThe African Development Bank will continue to play a convening role to facilitate and assist with the suitable implementation of this investment, advocating for international best practice, small and medium enterprise development and diversification, women\u2019s empowerment, job creation, and other critically important considerations.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Mozambique Liquefied Natural Gas (LNG) Area 1 Project and the African Development Bank have jointly received the prestigious Global Multilateral Deal of the Year 2020 award by the print … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":6543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7443,7445,11],"tags":[80,3944,738,6648,1428,1603,1636,1854,6301,1911,2096,9024],"class_list":["post-9884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-eastern-africa","category-southern-africa","category-top-news","tag-african-development-bank","tag-bharat-petroleum","tag-empresa-nacional-de-hidrocarbonetos","tag-japan-bank-for-international-cooperation","tag-lng","tag-mitsui","tag-mozambique","tag-oil-and-natural-gas-corporation","tag-oil-india","tag-ongc","tag-pttep","tag-united-states-export-import-bank","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Mozambique-LNG-Park.jpg?fit=660%2C408&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2zq","jetpack-related-posts":[{"id":7839,"url":"https:\/\/www.oilnewskenya.com\/index.php\/african-development-bank-approves-400-million-to-support-mozambiques-ambition-to-become-global-liquefied-natural-gas-lng-player\/","url_meta":{"origin":9884,"position":0},"title":"African Development Bank approves $400 million to support Mozambique\u2019s ambition to become global Liquefied Natural Gas (LNG) player","author":"","date":"November 26, 2019","format":false,"excerpt":"The African Development Bank Group has approved a long-term Senior Loan of $400 million to support the building of an integrated Liquefied Natural Gas (LNG) plant, including a liquifaction facility in Mozambique. 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It includes the development of the Golfinho and Atum natural gas fields located in Offshore Area 1 concession and the construction of a two-train liquefaction plant with a\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/05\/Mozambique-Area-4.jpg?fit=500%2C372&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14773,"url":"https:\/\/www.oilnewskenya.com\/index.php\/the-african-energy-chamber-aec-lauds-us-for-supporting-mozambique-lng-project-after-exim-bank-re-authorizes-4-7b-loan\/","url_meta":{"origin":9884,"position":2},"title":"The African Energy Chamber (AEC) Lauds US for Supporting Mozambique LNG Project After EXIM Bank Re-Authorizes $4.7B Loan","author":"","date":"March 19, 2025","format":false,"excerpt":"The African Energy Chamber (AEC) has expressed its sincere appreciation to the Trump administration for its unwavering support in advancing the Mozambique LNG project, a monumental initiative led by TotalEnergies that is set to reshape the energy landscape in Mozambique and across Africa. The U.S. Export-Import Bank has approved its\u2026","rel":"","context":"In \"Mozambique\"","block_context":{"text":"Mozambique","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/mozambique\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/09\/Mozambique-Rovuma.jpg?fit=620%2C310&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/09\/Mozambique-Rovuma.jpg?fit=620%2C310&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/09\/Mozambique-Rovuma.jpg?fit=620%2C310&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":10017,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-lng-report-out-now-mozambique-at-forefront-of-global-gas-development\/","url_meta":{"origin":9884,"position":3},"title":"Africa LNG Report Out Now: Mozambique at Forefront of Global Gas Development","author":"","date":"March 2, 2021","format":false,"excerpt":"Africa Oil & Power (AOP)\u00a0has launched its\u00a0Africa Energy Series: Africa LNG Special Report 2021,\u00a0dedicated exclusively to Liquefied Natural Gas (LNG) developments and investment across the continent; driven by new discoveries and progressive gas-focused policies, Africa\u2019s LNG consumption and production is set to become one of the fastest growing sub-sectors globally\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/78c065d58bb81a5a0e0bc52629050b06.jpg?fit=800%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/78c065d58bb81a5a0e0bc52629050b06.jpg?fit=800%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/78c065d58bb81a5a0e0bc52629050b06.jpg?fit=800%2C450&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/78c065d58bb81a5a0e0bc52629050b06.jpg?fit=800%2C450&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8377,"url":"https:\/\/www.oilnewskenya.com\/index.php\/energy-transition-plays-role-in-driving-fids-across-africa\/","url_meta":{"origin":9884,"position":4},"title":"Energy Transition Plays Role in Driving FIDs Across Africa","author":"","date":"June 18, 2020","format":false,"excerpt":"Hosted by Africa Oil & Power and the African Energy Chamber, the \u2018Closing Deals: Advancing FID During COVID-19\u2019 webinar addressed the prioritization of energy projects in an environment of limited capital investment; Natural gas developments are facing fewer delays in FID than oil exploration and production projects. \u2018Closing Deals: Advancing\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/565c5871460659d569b96e51c2463d73.jpg?fit=800%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/565c5871460659d569b96e51c2463d73.jpg?fit=800%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/565c5871460659d569b96e51c2463d73.jpg?fit=800%2C451&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/565c5871460659d569b96e51c2463d73.jpg?fit=800%2C451&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":695,"url":"https:\/\/www.oilnewskenya.com\/index.php\/east-africa-the-newest-lng-frontier\/","url_meta":{"origin":9884,"position":5},"title":"East Africa: the newest LNG frontier","author":"Samuel Kamau Mbote","date":"March 12, 2014","format":false,"excerpt":"Story by LNG With extraordinary discoveries of natural gas in the Rovuma Basin, East Africa is emerging as a new LNG frontier. The International Energy Agency (IEA) estimates that Africa holds nearly 74 trillion m3\u00a0of technically recoverable natural gas reserves, nearly 10% of the world\u2019s total, and it is believed\u2026","rel":"","context":"In "News by others"","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=9884"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9884\/revisions"}],"predecessor-version":[{"id":9886,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9884\/revisions\/9886"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/6543"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=9884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=9884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=9884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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