This image shows an industrial zone in Ethiopia featuring multiple modern factories and ongoing construction, highlighting economic growth.
TotalEnergies failed to secure U.S. approval for nearly $5 billion in financing for its Mozambique LNG project before the Biden administration left office. CEO Patrick Pouyanné had urged officials to expedite approval, fearing further delays under Trump. The U.S. Export-Import Bank is now reviewing the project’s terms. Security concerns, Islamist insurgency, and human rights allegations have stalled progress since 2021. Other governments, including the UK and Netherlands, are also reassessing funding. With no restart in sight, TotalEnergies’ ambitious 2029 production timeline is at risk, adding to the uncertainty surrounding one of Africa’s largest energy investments.
Source: Financial Times