The company's Chief Executive, Patrick Pouyanne says the construction by mid-summer. Covered by force majeure since 2021, following insurgent attacks, the project includes development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession and the building of a two-train liquefaction plant.

"The security situation has improved," Pouyanne said, adding that "it will be up to the government of Mozambique to approve lifting of this force majeure." The plant will have a capacity of 13.12 million metric tons per year. Total is the operator with a stake of 26.5%, followed by Mitsui & Co with 20%, while Mozambique's state-owned Empresa Nacional de Hidrocarbonetos has 15%. Indian state firms and Thailand's PTTEP own the rest.

In the Pacific island of Papua New Guinea, the French energy major is also looking at reducing the capital expenditure of its LNG project by 20% to 25%, Pouyanne said. The second major gas project in the impoverished nation, the 5.4-million-metric-tpy Papua LNG is a joint venture of TotalEnergies, Exxon Mobil Santos and state-owned Kumul Petroleum.

--Reuters--