Browsing: Oil & Gas

Total is expecting at least a year’s delay at its $20bn Mozambique LNG project due to the escalating security crisis in the Cabo Delgado, Jean-Pierre Sbraire, chief financial officer at the French oil major said on Thursday

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All work at the LNG site has been suspended, but Total may have only declared force majeure with the government on its exploration and production concession contract, and not with its contractors -- yet

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Mozambique’s national oil company, ENH, could be burdened with more than $700m of unpaid debt when the Coral South FLNG project reaches the end of its economic life, if the Exxon-led Rovuma LNG project does not move ahead, according to recent analysis by the World Bank

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There is no doubt that the Mozambican government sees the security of the LNG projects as a vital national interest, but it is unlikely to attempt to guarantee that security with French or US troops

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