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Total secures Mozambique LNG funding

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LNG Industry,

Reuters is reporting that Total has secured a financing deal for the first phase of its senior debt funding for the Mozambique LNG project.

According to Reuters sources, the group which signed the US$14.4 billion financing agreement with Total is made up of 20 lenders. The sources also reported that Total expects the financing to be closed in 3Q20.

Total finalised its acquisition of Anadarko’s Mozambique LNG stake in September 2019 for US$3.9 million. The project is expected to start LNG production in 2024.

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