Total Announces the Signing of Mozambique LNG Project Financing
17 Juillet 2020 - 7:55PM
Dow Jones News
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces the signing of a
14.9 B$ senior debt financing agreement for Mozambique LNG. This
project is the country's first onshore LNG development. It includes
the development of the Golfinho and Atum natural gas fields located
in Offshore Area 1 concession and the construction of a two-train
liquefaction plant with a total capacity of 13.1 million tons per
annum.
Mozambique LNG represents a total post-FID investment of 20 B$.
The project financing amounts to 14.9 B$, the biggest ever in
Africa, and includes direct and covered loans from 8 Export Credit
Agencies (ECAs), 19 commercial bank facilities, and a loan from the
African Development Bank.
The ECAs participating in the financing include Export Import
Bank of the United-States (US-Exim), Japan Bank for International
Corporation (JBIC), Nippon Export and Investment Insurance (NEXI),
UK Export Finance (UKEF), Servizi Assicurativi del Commercio Estero
of Italy (SACE), Export Credit Insurance Corporation of South
Africa (ECIC), Atradius Dutch State Business (Atradius),
Export-Import Bank of Thailand (EXIM Thailand).
"The signing of this large-scale project financing, less than
one year after Total assumed the role of operator of Mozambique
LNG, represents a significant achievement and a major milestone for
the project," declared Jean-Pierre Sbraire, Chief Financial Officer
of Total. "It demonstrates the confidence placed by the financial
institutions in the long-term future of LNG in Mozambique. This key
milestone has been reached thanks to the dedication of the
Mozambique authorities and the financial partners of the
project."
Total E&P Mozambique Area 1 Limitada, a wholly owned
subsidiary of Total SA, operates Mozambique LNG with a 26.5%
participating interest alongside ENH Rovuma Área Um, S.A. (15%),
Mitsui E&P Mozambique Area1 Limited (20%), ONGC Videsh Rovuma
Limited (10%), Beas Rovuma Energy Mozambique Limited (10%), BPRL
Ventures Mozambique B.V. (10%), and PTTEP Mozambique Area 1 Limited
(8.5%).
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms "Total", "Total Group" and
Group are sometimes used for convenience. Likewise, the words "we",
"us" and "our" may also be used to refer to subsidiaries in general
or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200717005466/en/
CONTACT: Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: TOTAL
Copyright Business Wire 2020
(END) Dow Jones Newswires
July 17, 2020 13:40 ET (17:40 GMT)
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