PARIS, Feb 5 (Reuters) - TotalEnergies CEO
Patrick Pouyanne said on Wednesday that financing from the
United States for its $20 billion Mozambique LNG project is
expected to be approved in coming weeks, with other credit
agencies to follow in the months after.
The company is waiting for loan re-approvals from the United
States, UK and Dutch export credit agencies before lifting a
force majeure on the project that has been in place since 2021.
Speaking to journalists after reporting fourth-quarter
earnings, Pouyanne said he expected a prior loan approval to be
restored fairly quickly under the Trump administration.
He added that the project completion date would need to be
pushed back to 2029-2030, from a previously planned 2027.
The U.S. Export-Import Bank had previously agreed a $4.7
billion loan for the project but it needs to be re-approved,
after construction on the project was frozen in 2021 due to
violent unrest in the northern Cabo Delgado region near the
project site - before any disbursements were made.
Pouyanne said that Britain, which has pledged around $800
million to $1 billion, is looking to see if it has a legal right
to exit, but noted it had already signed a contract on the
financing.
"I am waiting to see how they will explain it to us," he
said.