TotalEnergies Ready to Resume $20 Billion LNG Project After Force Majeure, Mozambique Says

Mozambique President Daniel Chapo announced that conditions are in place for TotalEnergies to restart its $20 billion LNG project, halted since 2021 due to security risks. The project is expected online by 2029, boosting global LNG supply.

(Reuters) — Mozambique President Daniel Chapo said on Oct. 2 that the conditions have been met for French energy company TotalEnergies to lift force majeure on its $20 billion liquefied natural gas (LNG) project in the Southern African country.

TotalEnergies halted work on its Mozambique LNG project in 2021 after an Islamist militant attack.

It forecasts the 13 million metric ton-per-year project will come online in 2029, around five years later than initially expected.

"Conditions are met for the lifting of force majeure, and we await the pronouncement of the concession holder shortly," Chapo said at a ceremony where Italian firm Eni and its partners took a final investment decision on another gas project in Mozambique.

TotalEnergies declined to comment on Chapo's comments.

For TotalEnergies, the world's second-largest listed LNG player, the megaproject offers a chance to narrow the lead of rival Shell as global demand for gas surges and Western buyers seek to avoid Russian gas.