On Wednesday, CEO Patrick Pouyanné announced that TotalEnergies plans to resume its $20 billion liquefied natural gas (LNG) project in Mozambique this summer.
He was asked about the timeline during the Japan Energy Summit held in Tokyo, according to a report from Reuters, the British news agency.
The project has been on hold since 2021 following a surge in terrorist attacks in northern Mozambique. It aims to develop the Golfinho and Atum gas fields near the coast and build a processing plant.
The project will have the capacity to produce 13.12 million metric tons annually.
TotalEnergies is the main operator of the project with a 26.5% stake, followed by Mitsui & Co with 20%, while Mozambique’s state company ENH holds 15%. The remaining shares are owned by state-owned companies from India and Thailand.
This restart has been made possible thanks to the deployment of Rwandan troops, who were sent to fight the insurgents that had destabilized northern Mozambique. After four years of presence, these forces have successfully restored significant security in the region.
