Communication - Presse
LNG to Start in 2029, Mozambique Seeks Economic Autonomy, Credit to the Economy Drops, and Exports to China Accelerate
TotalEnergies has confirmed that liquefied natural gas (LNG) production under the mega Mozambique LNG project will begin in 2029. In an interview with Nikkei Asia, CEO Patrick Pouyanné stressed that engineering work never stopped and that improved security conditions in Cabo Delgado now allow for the full return of teams to the field. Valued at around USD 20 billion (MZN 1.3 trillion), the project plans for an initial capacity of 12.8 million tonnes per year and relies on the Golfinho and Atum fields, which are estimated to hold over 60 trillion cubic feet (Tcf) of reserves. A final decision remains dependent on the formal lifting of the force majeure clause (invoked in 2021) and the closure of an additional USD 7 billion (MZN 441 billion) financing package, following the revalidation of a USD 4.7 billion (MZN 296 billion) loan by the US ExIm Bank.
Chapo Calls for Economic Independence as Mozambique’s Next Milestone
During the celebrations of Mozambique’s 50 years of independence, President Daniel Chapo offered a positive assessment of social progress since 1975 but warned that the new challenge is achieving economic independence. He highlighted the expansion of the school network — from 3 mid-level institutes to 245 —, the growth of higher education from 1 to around 60 institutions, and the reduction in infant mortality from 179 to 61 per 1,000 live births.
To tackle poverty, youth unemployment, corruption, and the effects of climate change, Chapo announced the creation of the Local Economic Development Fund and the future Mozambique Development Bank, emphasizing that “prosperity will depend on the joint effort of the State, the private sector, and civil society.”
