This archive report was first published on 19 July 2020.
On July 17, 2020, French oil major Total signed a $14.9 billion (Sh1.6 trillion) senior debt financing agreement for its massive liquefied natural gas project in Mozambique, the biggest project financing ever in Africa.
The project, which includes the development of gas fields in the Offshore Area 1 concession and construction of a two-train liquefaction plant with a capacity of 13.1 million tonnes, secures the majority of the project’s total investment of $20 billion (Sh2.1 trillion).
According to Chief Financial Officer Jean-Pierre Sbraire, the signing shows financial institutions have confidence in the future of LNG in Mozambique.
