MOZAMBIUE: Mozambique LNG Partners Unanimously Agree to Provide Additional Equity to the Project

The Mozambique LNG partners have unanimously agreed to inject additional equity capital to replace the positions formerly expected to be held by UKEF and Atradius. This contribution will cover approximately 10% of the total external financing, ensuring continuity and momentum for project advancement.

This follows the withdrawal of participation by UKEF and Atradius upon the lifting of Force Majeure and the partners’ collective decision to resume work in alignment with the revised execution schedule. Recently the UK and Dutch authorities withdrew a combined $2.2 billion in support after both hired firms to probe human rights concerns surrounding the development.

TotalEnergies and its consortium partners have extended their appreciation to the lenders representing around 90% of the external financing who have reaffirmed their commitment an endorsement of the project’s strategic significance and developmental value for Mozambique.

“TotalEnergies has taken note of the reports commissioned by the Ministry of Finance of the Netherlands from external advisors Clingendael and Pangea Risk regarding the human rights and security situation in Cabo Delgado, which were published on 1st December despite the fact that Atradius is no longer part of the financing.

TotalEnergies regrets that both external advisors did not travel to Mozambique and conduct on-the-ground investigations by themselves, but produced a report relying mainly on information collected through third parties,” TotalEnergies said in a statement.