TotalEnergies and its partners in the giant Mozambique LNG project recently lifted force majeure on the 12.8 million tonnes per annum (mtpa) project worth approximately $20.5 billion.
The partners declared force majeure on the project in April 2021 and withdrew all personnel from the site due to new attacks.
Besides TotalEnergies, other partners in the project include Japan’s Mitsui, Mozambique’s ENH, Thailand’s PTT, and Indian firms ONGC, Bharat Petroleum, and Oil India.
The UK government said on Monday it was withdrawing its $1.15 billion backing for the Mozambique LNG project after agreeing in 2020 on a $300 million loan and insurance worth about $700 million for the $20 billion project via UK Export Finance.
Also, the Dutch government has withdrawn a $1.1 billion request for export insurance for the project via Atradius Dutch State Business.
TotalEnergies released a statement on Tuesday following the communications made by the UK and Dutch authorities regarding the involvement of their export credit Agencies, UKEF and Atradius, in the financing of the Mozambique LNG project.
In 2020, Mozambique LNG concluded a project financing for a total amount of $15.4 billion with a group of approximately 30 lenders including export credit agencies and commercial banks.
Due to the prolonged force majeure period, Mozambique LNG has negotiated with the lenders an amended financing agreement in order to align the documentation with the updated project schedule, according to TotalEnergies.
After the lifting of force majeure by Mozambique LNG, and the will of the consortium to resume the project, Mozambique LNG partners decided to proceed without the participation of UKEF and Atradius since these two export credit agencies had not yet reconfirmed their commitment.
“The Mozambique LNG partners have unanimously agreed to provide additional equity to replace the UKEF and Atradius contributions, representing in aggregate approximately 10 percent of the external financing,” the company said.
“TotalEnergies and its partners would like to thank the lenders representing around 90 percent of the external financing who have confirmed their commitment to the financing of the project, acknowledging its positive contribution to the development of Mozambique,” the company said.
In March, the Export-Import Bank of the United States re-approved a $4.7 billion loan for the Mozambique LNG project.
Safety
TotalEnergies said it had taken note of the reports commissioned by the Ministry of Finance of the Netherlands from external advisors Clingendael and Pangea Risk regarding the human rights and security situation in Cabo Delgado, which were published on December 1 despite the fact that Atradius is no longer part of the financing.
“TotalEnergies regrets that both external advisors did not travel to Mozambique and conduct on-the-ground investigations by themselves, but produced a report relying mainly on information collected through third partiesm” the company said.
“Regarding the allegations of human rights abuses by members of the Mozambique Defense Forces, TotalEnergies reiterates the clarifications made by the company on November 20, 2025,” it added.
