The Mozambican government has approved reinstating the four-and-a-half-year suspension period for the TotalEnergies LNG project in Cabo Delgado, rejecting the company's request for a ten-year concession extension. A government resolution stipulated that the project's initial thirty-year development term should be recalculated to account for the force majeure period invoked due to terrorist attacks. The cabinet also mandated an independent audit to assess all expenses incurred during the suspension, a measure intended to protect public interest.
President Daniel Chapo had previously stated that negotiations with the energy company were nearing conclusion. TotalEnergies had formally requested the concession extension to offset reported losses of 4.5 billion dollars resulting from the project halt. The force majeure, which began several years ago, is scheduled to be lifted, allowing the multi-billion-dollar project to resume operations with a revised schedule for its first gas delivery.
President Daniel Chapo had previously stated that negotiations with the energy company were nearing conclusion. TotalEnergies had formally requested the concession extension to offset reported losses of 4.5 billion dollars resulting from the project halt. The force majeure, which began several years ago, is scheduled to be lifted, allowing the multi-billion-dollar project to resume operations with a revised schedule for its first gas delivery.
