The Export-Import Bank had previously agreed to a $4.7 billion loan for the $20 billion project under President Donald Trump's first administration, but it needed to be re-approved after construction on the project was frozen in 2021 due to violent unrest in the nearby northern Cabo Delgado region before any disbursements were made.

TotalEnergies Chief Executive Officer (CEO) Patrick Pouyanne said last month that he expected financing from the United States to be approved in the coming weeks, with other credit agencies to follow in the months after.

The company had been waiting for loan re-approvals from the US, United Kingdom (UK) and Dutch export credit agencies before lifting a force majeure on the project that has been in place since 2021.

Estevao Pale, Mozambique's Minister for Energy, told the FT that he also expects the UK and Netherlands to reconfirm their support.

--Reuters--