TotalEnergies anticipates a resumption of its $20 billion Mozambique liquefied natural gas project as early as this summer, according to CEO Patrick Pouyanné, reiterating his view in May.
Speaking at the Japan Energy Summit in Tokyo, Pouyanné revealed that the company is preparing to restart the development, which had been halted under force majeure conditions following a wave of insurgent violence in 2021.
The project, among Africa’s largest energy developments, involves tapping the Golfinho and Atum gas fields in Mozambique’s Offshore Area 1. Plans also include construction of a dual-train LNG plant with an annual production capacity projected at 13.12 million metric tons.
TotalEnergies holds a 26.5% operating interest in the venture, with Japan’s Mitsui & Co holding a 20% share. Mozambique’s state energy firm ENH maintains a 15% stake, with the balance distributed among a consortium of Indian government-run companies and Thailand’s state oil giant PTTEP holding the remaining stake.
The anticipated restart marks a significant milestone for Mozambique’s ambitions to become a top global LNG exporter, and comes as improved security has revived confidence in the northern Cabo Delgado region after several years of disruption.
