According to the Financial Times’, French energy giant TotalEnergies has further postponed the liquefied natural gas (LNG) project in Mozambique’ following ongoing political uncertainty and mounting security issues. The project is currently valued at around $20 billion (19.14 billion euros) and is already facing a number of hurdles.
Launched in 2019 following a final investment decision, the project was expected to help the Mozambique economy recover. This project was the continent's largest foreign direct investment (FDI) project at the time.
Armed riots have stopped the work.
However, the company was forced to declare force majeure in 2021 following attacks by rebels in the province of ’in Cabo Delgado, Mozambique. These attacks took place near the TotalEnergies site, which is expected to be used to convert gas into liquid.
Although TotalEnergies plans to continue the project until the end of last year, plans have been delayed due to growing violence and unrest following the October presidential election, and the result is still heavily debated. Violent protests not only resulted in loss of lives, but also hit businesses, resulting in the closure of ports and land borders.
This latest postponement of the LNG project has raised concerns that the project could start production in 2029’.
TotalEnergies said on its website: “MozambiqueThe Province of Cabo Delgado in ’Given the development of the security situation in the north of ’, we confirm that all personnel in the Mozambique LNG Project’ have withdrawn from Afungi’. This leads TotalEnergies EP Mozambique Region 1, Lda.’ (TEPMA1) to declare force majeure as the operator of the Mozambique LNG Project ’.
“We express our solidarity with the Government and the people of Mozambique and hope that the actions taken by the Government of Mozambique and its regional and international partners will enable the sustainable restoration of security and stability in the Province of Cabo Delgado, ’.
The company said there could be hope for a comeback soon after Rwanda and Mozambique ’ formed a partnership. Rwanda has deployed thousands of troops to help ’e in Mozambique.
TotalEnergies to sell 50 percent of West Burton Energy shares
TotalEnergies recently acquired West Burton Energy shares. ’sini EPH’'s subsidiary in ’ sold to EPUKI’. TotalEnergies acquired West Burton Energy’ last June but has always made it clear that it will sell half of it.
The company announced that the sale was made to help it better align its growing renewable energy portfolio at ’, United Kingdom, with its flexible gas generation capacity.
Following the sale, West Burton Energy’'s 1.3 GW’ gas-fired power plant will be operated as a joint venture between EPUKI and TotalEnergies’. West Burton Energy also has a 49 MW’ battery storage system in ’, UK.
Sophie Chevalier, senior vice president of Flexible Power and Integration at TotalEnergies, said in a press release on the company's website: “United KingdomWe are pleased to partner with EPH, a well-known and experienced energy producer in ’.
“Thanks to this operation, we are adjusting our net flexible production capacity to 700 MW’, consistent with the capacity required to support our Renewable Energy growth in ’, United Kingdom. This integration between flexible and renewable assets will enable our Integrated Energy business to %It will contribute to the goal of achieving 12 returns.”
