Total’s liquefied natural gas (LNG) project in Mozambique is progressing despite the risk of implantation in the country of an enclave of the Islamic State group, said Thursday Patrick Pouyanné, CEO of the French group.
Mozambique last week asked the European Union to support it in its fight against a wave of attacks carried out in the north of its territory by rebels linked to the jihadist group, a development which raises fears for the stability of the region .
“The situation is serious, I think that the Western powers are realising that an enclave piloted by Daesh is being established within Mozambique (…) It is a problem of stability in Africa. East ”, said Patrick Pouyanné during a press conference.
“The project for the moment has progressed (…), it is major for the country. And we carried out the work, we did all the earthworks, the airstrip, the jetties (…). Now, it is clear that it would be good if this situation was brought under control, but not only for Total ”, he also said.
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In July, the group announced the signing of the external financing agreement for the Mozambique LNG project, of which it is the operator, for an amount of US$14.9B (€13B).
This project – the first onshore development of an LNG plant in the country – includes the development of two fields and the construction of two liquefaction trains with a total capacity of 13.1 million tonnes per year.
Mozambique LNG, which represents a total investment of US$20B, will be financed to the tune of US$14.9B through direct loans and guaranteed loans from eight export credit agencies, 19 commercial banks and the African development Bank.
This is the largest project funding ever in Africa.
Source: Reuters