$14.4 bln Mozambique LNG financing complete BUSINESS DEVELOPMENTS & PROJECTS
July 16, 2020,
The Japan Bank for International Cooperation (JBIC)
has confirmed the $14.4 billion financing for the Mozambique LNG project has been finalized.
JBIC portion of the co-financing,
a $3 billion loan agreement, was agreed on July 15.
Total-led Mozambique LNG project
is co-financed with
African Development Bank (AfDB),
Export-Import Bank of the US (US-Exim),
UK Export Finance (UKEF),
Export-Import Bank of Thailand (Exim Thailand) as well as 21 private financial institutions.
Part of the co-financing loans provided by private financial institutions
is insured or guaranteed by Nippon Export and Investment Insurance (NEXI), UKEF, SACE of Italy, the Export Credit Insurance Corporation of South Africa (ECIC), as well as Atradius Dutch State Business, JBIC noted in its statement.
The Mozambique LNG project
was sanctioned by the U.S. company Anadarko and its Area 1 co-venturers in June 2019.
At the end of September last year, French oil Total purchased Anadarko’s 26.5 per cent interest in the project for $3.9 billion.
Mozambique LNG
is the country’s first onshore LNG development. The project includes the development of the Golfinho and Atum fields located within Offshore Area 1 and the construction of a two-trains liquefaction plant with a capacity of 13.12 million tonnes per year (Mt/y).
Total operates Mozambique LNG
with a 26.5 percent participating interest alongside
ENH Rovuma Área Um, S.A. (15 percent), Mitsui E&P Mozambique Area1 (20 percent), ONGC Videsh (10 percent), Beas Rovuma Energy Mozambique (10 percent), BPRL Ventures Mozambique (10 percent),
PTTEP Mozambique Area 1 (8.5 percent).
Offshore Energy
https://www.offshore-energy.biz/jbic-14-4-bln-mozambique-lng-financing-complete/
Total inks $14.9 billion debt financing for Mozambique LNG – Offshore Energy
https://www.offshore-energy.biz/total-inks-14-9-billion-debt-financing-for-mozambique-lng/