TotalEnergies Mozambique LNG project may resume within 18 months, says AfDB

Record ID: 1633917

  • Title: TotalEnergies Mozambique LNG project may resume within 18 months, says AfDB
  • Date: 27th August 2021
  • Summary: BERLIN, GERMANY (AUGUST 27, 2021) (REUTERS) (SOUNDBITE) (English) PRESIDENT OF THE AFRICAN DEVELOPMENT BANK, AKINWUMI ADESINA, SAYING: ''I think that now that the area is under control, I expect that they will stabilize and hopefully in the next one year I expect that things will return back on track there.'' WHITE FLASH (SOUNDBITE) (English) PRESIDENT OF THE AFRICAN DEVELOPMENT BANK AKINWUMI ADESINA, SAYING: ''I think that the return of security in that place will give assurances to Total and others to return, it will take some time to stabilize but I don't think it will affect the project in the long term basis, in one year to 18 months I expect it to stabilize enough for it to go back on track.''
  • 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: LVA001ES23GHZ
  • 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.
    (Production: Aiden Nulty)
  • Copyright Holder: REUTERS
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