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U.S. EXIM’s Re-Approval of $4.7 Billion Loan for Mozambique LNG Project

Employ Africa Employer of Record for Mozambique and USA. Recruitment in Mozambique and Payroll in Mozambique

Employ Africa Applauds U.S. EXIM’s Re-Approval of $4.7 Billion Loan for Mozambique LNG Project

Employ Africa commends the U.S. Export-Import Bank’s (EXIM) recent decision to re-approve a $4.7 billion loan for Total Energies’ Mozambique LNG project, one of Africa’s most significant natural gas initiatives. *1

Initially approved in 2019, this financing was delayed due to security challenges in Mozambique’s Cabo Delgado province, leading to a temporary halt in development. With improved security conditions and new agreements with local stakeholders, the project is now poised to advance. *2

Located on the Afungi Peninsula in northern Mozambique, the Mozambique LNG project aims to produce 12.88 million tons of LNG annually. EXIM’s involvement ensures that U.S. contractors will play a significant role, aligning with the bank’s mission to promote U.S. exports and support international ventures. *3

This development not only strengthens Mozambique’s position in the global LNG market but also offers substantial economic opportunities across Africa. Employ Africa recognizes the project’s potential to drive economic growth and enhance energy access throughout the continent.

References:

  • 1. U.S. EXIM Re-Approves $4.7B Loan for Mozambique LNG. Cite:  Energy Capital & Power. 
  • 2. EXIM Board of Directors Votes to Proceed with $4.7 Billion LNG Equipment and Services Transaction After Comprehensive Review. U.S. Export-Import Bank. Cite: EXIM 
  • 3. US approves $5 billion loan to Total Energies for Mozambique gas project. Reuters. 

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