TotalEnergies Relaunches $20 Billion Mozambique Gas Project After Devastating Jihadist Attack
In a major breakthrough, French petroleum giant TotalEnergies has announced the relaunch of its massive gas project in northern Mozambique, five years after it was shut down by a devastating jihadist attack. The project, valued at $20 billion, is expected to create thousands of jobs and become one of Africa's largest private investments in energy infrastructure.A Devastating Attack
In 2021, the northern Cabo Delgado province was hit by a devastating jihadist attack that killed over 800 people. The attack forced TotalEnergies to declare a force majeure, effectively halting work on the project. However, after years of negotiations and planning, the company has finally secured permission from the Mozambican government to restart the project.
A Massive Investment
The LNG project is expected to create thousands of jobs, with 80% of the current workforce being Mozambican nationals. The project's value is estimated at $20 billion, making it one of Africa's largest private investments in energy infrastructure. TotalEnergies is seeking $4.5 billion in cost overruns linked to the delay, which will be covered by the Mozambican government.
A New Era for Mozambique
The relaunch of the project marks a significant milestone for Mozambique's energy sector and its economy as a whole. The country has been struggling with poverty and underdevelopment, but this massive investment is expected to bring much-needed revenue and create jobs for thousands of people.
TotalEnergies' decision to relaunch the $20 billion Mozambique gas project is a testament to the company's commitment to Africa's energy sector. The project has the potential to transform Mozambique's economy, creating thousands of jobs and generating much-needed revenue for the country. As the project gets underway, it remains to be seen how it will impact the region and its people.
