- Title: TotalEnergies Mozambique LNG project may resume within 18 months, says AfDB
- Date: 27th August 2021
- Summary: PARIS, FRANCE (FILE - OCTOBER 21, 2014) (REUTERS) TOTAL LOGO LA DEFENSE, FRANCE (FILE) (REUTERS) VARIOUS EXTERIORS OF TOTAL HEADQUARTERS GRANDPUITS, FRANCE (FILE - MAY 23, 2016) (REUTERS) VARIOUS OF TOTAL REFINERY
- Embargoed: 10th September 2021 20:59
- Keywords: Mozambique Palma Total energy
- Location: BERLIN, GERMANY / PALMA, MOZAMBIQUE / PARIS, LA DEFENSE AND GRANPUITS, FRANCE
- City: BERLIN, GERMANY / PALMA, MOZAMBIQUE / PARIS, LA DEFENSE AND GRANPUITS, FRANCE
- Country: Mozambique
- Topics: Africa,Economic Events
- Reuters ID: LVA003ES23GHZ
- Aspect Ratio: 16:9
- Story Text:TotalEnergies' liquefied natural gas (LNG) project in Mozambique could be back on track within the next 18 months after African armies deployed to help quell an insurgency, the president of the African Development Bank (AfDB) said on Friday (August 27).
The French energy giant declared force majeure on the $20 billion project in April after Islamic State-linked fighters overran the town of Palma, on the doorstep of its facilities in the northern Cabo Delgado province. It estimated at the time the disruption would delay development by at least a year.
Troops from Rwanda and members states from the Southern African Development Community (SADC) have since deployed to support Mozambican forces to help put down the insurgency.
AfDB president Akinwumi Adesina told Reuters he did not expect the interruption to affect the LNG project's long-term viability.
"The return of security in that place will give assurances to Total and others to return," he said. "In one year to 18 months, I expect it to be stabilised enough to get back on track."
TotalEnergies declined to comment on Adesina's remarks.
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