African Development Bank agrees $400 million loan for Mozambique LNG
The African Development Bank (AfDB) said that it has joined a global syndicate of banks and other financial institutions to provide financing for Mozambique’s $20 billion LNG project.
The regional development bank said it has concluded its bid to co-finance the project with a senior loan of $400 million.
The Mozambique LNG Area 1 Project, estimated to cost more than $20 billion, is ranked Africa’s single largest foreign direct investment to date. The project will consist of two LNG trains with a total capacity of around 13 million tons per year.
French energy major Total, the operator of the giant Mozambique LNG project, said on Friday it had signed a $14.9 billion senior debt agreement for the project, the biggest project financing ever in Africa.
Writing by Bate Felix; Editing by Alex Richardson
- Freeport LNG export plant in Texas to take in more natgas after unit shut on Monday
- LNG cool-down vessel arrives at ExxonMobil's Golden Pass plant in Texas
- Freeport LNG export plant in Texas reports shutdown of liquefaction train
- TotalEnergies and Mozambique announce the full restart of the $20-B Mozambique LNG project
- Five energy market trends to track in 2026, the year of the glut
Comments