The board of the U.S. Export-Import Bank approved a nearly $5 billion loan for a long-delayed LNG project in Mozambique, clearing a key hurdle to restarting the project under development by French oil major TotalEnergies.

US President Donald Trump’s administration has unlocked almost $5bn in funding for a liquefied natural gas project by France’s TotalEnergies in Mozambique, potentially restarting work on one of Africa’s largest energy investments.

The key project loan was approved under US President Donald Trump’s first term in the White Office. But in April 2021 TotalEnergies and its partners declared force majeure on the 10-million tonnes per annum project as the security situation deteriorated in the Cabo Delgado region where the liquefaction plant is to be sited.

U.S. President Donald Trump's administration has released almost $5 billion in funding for a liquefied natural gas project by France's TotalEnergies in Mozambique, the Financial Times reported on Thursday.

The US Export-Import Bank’s board approved a $4.7 billion loan that makes up the biggest piece of financing for TotalEnergies SE’s Mozambique LNG project, according to people with knowledge of the matter.

The Trump administration has released almost $5 billion in funding for a liquefied natural gas (LNG) project by France's TotalEnergies in Mozambique , the Financial Times reported on Thursday. The U.S.