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Project Insights

Total looks to alternative financing for Mozambique LNG

Mozambique LNG is moving towards financial close in Q2 2020, but there are fresh questions over how operator Total will fund its stake Mozambique LNG is moving towards financial close in Q2 2020, but there are fresh questions over how operator Total will fund its stake.
By Leigh Elston 12 December 2019 Middle East & Africa / LNG 0 34872
A drillship offshore Mozambique. (Anadarko)

The key issue: Without cash flows from Algerian assets, French major Total will need to raise more debt financing to fund its multibillion-dollar Mozambique LNG project.

Interfax analysis: The move by Algiers to block Total from acquiring Anadarko’s Algerian oil and gas assets seems unlikely to delay financial close on the $23 billion Mozambique LNG project, which continues to progress, but it could move Total’s debt burden into shakier territory.

Algeria’s energy minister, Mohamed Arkab, announced last week that state oil company...