22-07-2025
Mozambique nears deal to revive Total's $20 billion LNG plan
Mozambican President Daniel Chapo said he expects to soon conclude talks with TotalEnergies over the restart of a $20 billion (R354bn) natural-gas project.
Mozambican President Daniel Chapo said he expects to soon conclude talks with TotalEnergies over the restart of a $20 billion (R354bn) natural-gas project that halted four years ago because of an Islamic State-linked insurgency.
Chapo earlier this month met with Total CEO Patrick Pouyanne to discuss resuming the project that has the potential to transform the economy of one of the world's poorest countries, he said in a July 19 interview. Mozambique's $900 million in bonds due 2031 rallied as much as 1.4% to the highest level since October, reaching 86.265 cents on the dollar by 12.28 pm in Maputo, the capital.
'I was with Mr. Pouyanne two weeks ago and things are going well,' Chapo said. 'In August, we will close our talks' about when to restart the project, he said.
