The African Energy Chamber (AEC) (https://EnergyChamber.org), as the voice of Africas energy sector, expresses its sincere appreciation to the Trump administration for its unwavering support in advancing the Mozambique LNG project, a monumental initiative led by TotalEnergies that is set to reshape the energy landscape in Mozambique and across Africa. The U.S. Export-Import Bank has approved its $4.7 billion loan for the project, a decision that provides a much-needed boost to one of the continents most significant energy investments.The reauthorization of this funding marks a pivotal moment in the ongoing development of Mozambiques natural gas resources, which have the potential to transform the nations economy and solidify Africas position in the global energy market. The approval, initially granted during the Trump administrations first term, signals a critical shift in US policyone that recognizes the importance of US leadership in fostering energy security and economic development in Africa.This project, which has been on hold since 2021 due to security concerns in the Cabo Delgado province, is now positioned to proceed thanks to the renewed backing from the U.S. The Mozambique LNG project represents one of the largest LNG investments in Africareaching a landmark $20 billion final investment decision in 2019with the potential to not only stimulate the Mozambican economy, but also provide a key source of natural gas to meet the growing energy demands of Asia and other international markets. Targeting approximately 65 trillion cubic feet of recoverable natural gas, the project features a planned capacity of 13 MTPA with expansion capacity of up to 43 MTPA, playing a crucial role in the global transition to more sustainable energy sources.The decision to approve the funding will also support American jobs, as U.S. subcontractors are expected to receive up to 30% of the contract value, further strengthening the economic ties between the U.S. and Africa. This partnership demonstrates the value of American investment in African natural gas and energy development, underscoring the shared commitment to global energy security.This development underscores the Trump administrations recognition of the crucial role energy investments play in fostering economic growth, security and stability in Africa. By backing the Mozambique LNG project, the administration has reinforced its commitment to strengthening US influence in the region while contributing to a more diversified global energy mix. This decision also sets a strong precedent for future energy projects in Africa, signaling to international stakeholders that the US remains a reliable partner in driving sustainable development. The Mozambique LNG project is not only key to unlocking economic potential, but also serves as a model for future U.S.-backed initiatives focused on energy infrastructure, job creation and sustainable growth across the continent.The AEC encourages ongoing collaboration between governments, investors and development partners to ensure the successful delivery of the Mozambique LNG project and similar ventures across Africa, says NJ Ayuk, Executive Chairman, African Energy Chamber, adding The support of the U.S. government, along with the efforts of TotalEnergies and other key stakeholders is essential in driving Africas transition to a more diversified and sustainable energy future.Looking ahead, it is crucial for other international partners to reaffirm their commitment to the Mozambique LNG project, helping ensure it stays on track to reach its full potential. The development of Mozambiques natural gas reserves is not merely an investment in energyit is an investment in Africas future. With continued support from the U.S. and global partners, this vision will become a reality.Distributed by APO Group on behalf of African Energy Chamber.Media filesDownload logo
Click here to read full news..
