TotalEnergies SE has announced the full resumption of all activities of the Mozambique LNG project. Following the lifting of the force majeure declared in 2021, the major liquefied natural gas (LNG) project will now continue both onshore and offshore. The project is expected to make Mozambique a major LNG exporter and bring long-term economic benefits to the country. The first LNG export is expected in 2029.
TotalEnergies holds a 26.5% stake in the consortium and expects the restart to significantly strengthen its global LNG portfolio, which will account for around 50% of the company's energy mix by 2030.
50 % of the company's energy mix by 2030.
Due to the five-year interruption, TotalEnergies is reportedly demanding compensation of 4.5 billion US dollars for cost overruns from the Mozambican state.
