TotalEnergies CEO Patrick Pouyanné said yesterday in Brussels that security conditions for the gas megaproject are assured, adding that it “will never stop again”.
“Security is good today. We will continue to work,” said Pouyanné to journalists after meeting the Mozambican President, Daniel Chapo, in Brussels.
“You can be sure that this project will never stop again. We will not stop, of course. We are here to make it a reality, not only for Mozambique but also for Europe and the world,” added Patrick Pouyanné.
According to the CEO, the megaproject will now continue to be developed for gas exploration in the Rovuma Basin, with Pouyanné promising to visit Mozambique again soon to monitor its progress.
“The next step is to continue building. As you know, we are constructing the project and I will probably go to Maputo at some point so we can continue this kind of engagement. It is very important to maintain a good relationship between the President of Mozambique and myself, because this is a gigantic project worth US$20 billion (€17.5 billion). Therefore, it is good for us to stay aligned and regularly review progress,” said the Chairman and CEO of TotalEnergies.
The gas exploration megaproject on the Afungi Peninsula officially resumed construction of the LNG production and export unit on 29 January, after being suspended since April 2021, when TotalEnergies invoked the ‘force majeure’ clause following extremist attacks in Cabo Delgado Province, northern Mozambique.
On 29 January, President Daniel Chapo described the resumption of this megaproject, which had been suspended for almost five years, as a symbol of “resilience, courage and determination”.
“Today is a day of celebration for Mozambique, for Africa and for the world,” Chapo said at the time, recalling the importance of Mozambique LNG, “one of the largest” on the continent, and highlighting the “effective, total and complete resumption” of the project, with gas exports expected to begin in 2029.
After visiting the formal resumption of works near the Afungi Basin, in the presence of Patrick Pouyanné, the head of state stressed that the day represented “the victory, resilience, courage and determination of the Mozambican people in the face of adversity”.
At stake is a project valued at US$20 billion (€17.5 billion), with capacity to produce 13 million tonnes per annum (mtpa) from the offshore Rovuma Basin.
“The ‘force majeure’ is over,” said Patrick Pouyanné on the same occasion, stressing that this is TotalEnergies’ largest investment in Africa.
Mozambique has three approved megaprojects for the development of LNG reserves in the Rovuma Basin, considered among the largest in the world, off the coast of Cabo Delgado. These include this project by TotalEnergies and another by ExxonMobil (18 mtpa), valued at US$30 billion (€26.1 billion), which is awaiting a final investment decision, both located in Afungi.
Added to this is the project by the Italian company Eni, which has been producing around seven mtpa since 2022 from the Coral Sul floating platform. This will be doubled from 2028 with the Coral Norte platform, in an investment of US$7.2 billion (€6.2 billion).
Source: Club Of Mozambique
