Latest Development
The $20.5bn Mozambique LNG Area 1 project finance package involves TotalEnergies (operator, 26.5%), Mitsui (20%), ONGC Videsh (10%), BPRL (10%), PTTEP (8.5%), ENH Mozambique (15%) and the Mozambican Government (10%) as equity partners. The debt package includes a $4.7bn commitment from the US Export-Import Bank (approved March 2025) plus financing from French, Italian and UK export credit agencies. The US Exim commitment is the largest-ever US Exim financing for an African energy project.
Capital Details
Capital TypeProject Finance
DateFinancial close achieved 2020; US Exim commitment renewed/confirmed March 2025
Investor / FinancierUS Export-Import Bank ($4.7bn); French ECA (Bpifrance/COFACE); Italian ECA (SACE); UK Export Finance (UKEF); Commercial bank syndicate
Recipient / BorrowerMozambique LNG1 Company Pte. Ltd. (project company — TotalEnergies-led)
Purpose of CapitalConstruction financing for the Mozambique LNG Area 1 onshore liquefaction plant and upstream Rovuma Basin development
Financing StructureSenior secured project finance — ECA-covered tranches plus commercial bank tranches. Government of Mozambique and ENH hold equity. Force majeure declared April 2021; lifted November 2025. ECA commitments reconfirmed for restart.
Market Significance
The largest-ever US Exim Bank financing commitment for an African energy project; and the first major Western ECA re-commitment to Mozambique after the force-majeure period and Rwandan/SADC security stabilisation.
Risk / Considerations
Security situation in Cabo Delgado is the primary risk — continued Rwandan and SADC military presence is the condition underwriting the entire financing and construction restart. Any security deterioration could trigger force majeure again.
Commercial Opportunity Intelligence
Commercial ReadinessCommercially Active
Source & Verification Trail
Last VerifiedAugust 2026
Source(s)US Export-Import Bank press release (March 2025); TotalEnergies Q2 2026 earnings; US Trade.gov Mozambique LNG Market Intelligence; Reuters
Source DateMarch 2025–August 2026