IFC intends to fund Mozambican biofuels
Image: Notícias
The current economic situation favours the return of French multinational TotalEnergies to the Rovuma Basin Area 1 liquefied natural gas project in Cabo Delgado province, Mozambique’s Minister of Mineral Resources and Energy, Carlos Zacarias, has said.
“We have other aspects that could cause the project to be resumed with some delay, such as market conditions, but in this specific case, the situation points to a favourable environment,” Minister Zacarias stated.
In an interview with Noticias, the minister said that the biggest obstacle to the French firm’s return is security in the province, with TotalEnergies’ declaration of “force majeure” still prevailing.
“The government, private entities and investors in TotalEnergies have been in regular contact to analyse the situation,” without specifying any date for the restart of the project.
“These contacts indicate […] that, in the area where the project will be implemented, the security situation is more consolidated, but it is necessary to verify this. Investors have already initiated contacts so that, if conditions permit, they can resume the project soon. As soon as the conditions obtain, the project will be resumed,” Minister Zacarias said.
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