Total says Mozambique LNG project progressing despite instability
French oil and gas major Total said on Thursday it was moving ahead with its $20 billion natural gas (LNG) project in Mozambique, despite growing concerns about a wave of militant attacks by rebels with links to Islamic State.
Mozambique last week asked the European Union for support in tackling the conflict in the country's north, which has raised fears for stability and security in southern Africa.
"The situation is serious," Total chairperson and CE Patrick Pouyanne told reporters at an event on Thursday. "The project has so far progressed ... it's a major one for the country."
Total is the operator of the Mozambique LNG project, and obtained a $14.9-billion debt financing package in July to fund its roll-out.
The project includes the development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession, and the construction of a two-train liquefaction plant with a capacity of 13.1-million tons a year.
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