African Energy Chamber Commends Trump Administration for Supporting Mozambique LNG Project with $4.7 Billion Loan
The African Energy Chamber (AEC) has expressed gratitude to the Trump administration for its pivotal support in advancing the Mozambique Liquefied Natural Gas (LNG) project following the reauthorization of a $4.7 billion loan by the U.S. Export-Import Bank (EXIM).
The loan, initially approved during the Trump administration’s first term, is expected to breathe new life into the $20 billion Mozambique LNG project led by TotalEnergies. The project had stalled in 2021 due to security concerns in the Cabo Delgado province.
However, with renewed financial backing, the initiative is now set to proceed, positioning Mozambique as a key player in the global energy market.
The Mozambique LNG project targets approximately 65 trillion cubic feet of recoverable natural gas, with an initial production capacity of 13 million tonnes per annum (MTPA) and potential expansion up to 43 MTPA. This development is anticipated to not only boost Mozambique’s economy but also meet rising energy demands in Asia and other international markets.
In his remarks, NJ Ayuk, Executive Chairman of the African Energy Chamber, praised the U.S. government for recognizing the importance of African energy investments.
“The support of the U.S. government, along with TotalEnergies and other key stakeholders, is essential in driving Africa’s transition to a more diversified and sustainable energy future,” Ayuk stated.
The reauthorization of the loan will also benefit American companies, as U.S. subcontractors are expected to secure up to 30% of the contract value, further strengthening economic ties between the U.S. and Africa.
The AEC has called for continued collaboration between governments, investors, and development partners to ensure the successful delivery of the project, which is expected to create jobs, boost infrastructure development, and contribute to global energy security.
