Total Signs Financing for Mozambique LNG Project
17 Juillet 2020 - 8:36PM
Dow Jones News
By Stephen Nakrosis
Total SA on Friday said it signed a $14.9 billion senior debt
financing deal for its Mozambique liquefied natural gas
project.
The French energy company said the project, which is
Mozambique's first onshore LNG development, will include
development of two offshore natural gas fields and the construction
of a liquefaction plant with two production lines.
Total also said the financing, which it described as the biggest
ever in Africa, includes loans from eight export credit agencies,
including the Export Import Bank of the United States, the Japan
Bank for International Corporation, UK Export Finance and the
Export Credit Insurance Corporation of South Africa. Financing was
also received from 19 commercial bank facilities and a loan from
the African Development Bank, Total said.
Total E&P Mozambique Area 1 Limitada, a wholly owned
subsidiary of Total SA, operates Mozambique LNG.
"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," Jean-Pierre Sbraire, Total's chief financial officer,
said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
July 17, 2020 14:21 ET (18:21 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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