US approves $5 billion loan to TotalEnergies for Mozambique gas project in Rovuma Basin

The Export-Import Bank had previously agreed 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 CEO Patrick Pouyanne said last month that he expected financing from the United States to be approved in coming weeks, with other credit agencies to follow in the months after.
The company had been waiting for loan re-approvals from the United States, 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.

Mozambique LNG, in which TotalEnergies holds a 26.5% operating stake, was slated to make the southern African nation a major LNG producer, but the project ground to a halt when an insurgency led by Islamic State-linked militants swept the region. Security there has since improved, with partner company Mitsui saying in December that final preparations were underway to resume construction after renegotiation with contractors. Environmental groups said the security risks tied to the project should have been enough to deny support for the project. “The human rights violations, armed conflict, environmental impacts and risky economic projections of the Mozambique LNG project should have kept most sensible investors away," said Daniel Ribiero, technical coordinator of Friends of the Earth Mozambique.


Distribution-of-major-gas-fields-in-the-Rovuma-Basin.jpg



 
Interestingly enough, this basin is said to be similar geologically to the Somali Basin. It has 150-200 tcf of proven gas reserves only behind Nigeria & Algeria in Africa.

The seismic data reveals several large fold and thrust belts including a predominantly Tertiary fold belt, similar to offshore Mozambique in the Rovuma Basin. There is also an older Cretaceous fold belt involving Cenomanian to Maastrichtian shelf and slope sediments that have been thrust up and folded into a plethora of large anticline structures.

 
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Even mozambique is exporting oil before us
It’s natural gas but even this was delayed due to financing and an Islamic State attack in 2021 which forced all employees working on the project to flee.

There’s so much gas offshore, even security issues aren’t detracting them. We can only hope the same for Somalia.
 
It’s natural gas but even this was delayed due to financing and an Islamic State attack in 2021 which forced all employees working on the project to flee.

There’s so much gas offshore, even security issues aren’t detracting them. We can only hope the same for Somalia.
America*. Isn’t it convenient how ISIS/Terror groups/Death Squads show up in the most resource rich regions in the world? Nigeria, Somalia, Mozambique, Iraq, Syria, Lybia, Congo.. the list goes on but it’s America thats been running the same playbook since the 50s
 

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America*. Isn’t it convenient how ISIS/Terror groups/Death Squads show up in the most resource rich regions in the world? Nigeria, Somalia, Mozambique, Iraq, Syria, Lybia, Congo.. the list goes on but it’s America thats been running the same playbook since the 50s
The Chinese run Iraq there the ones who refine all the oil and build all the infrastructure
 

The truth seeker

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you do know that all that oil royalties for iraq goes into a us bank and the foreign secretary states has to sign it off every week
Federal reserve bank of New York probably used that money to buy more gold to fill the reserves so the Japanese keep buying treasury bonds bush smarter than I thought 😂
 

The truth seeker

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Sometimes I feel like Arabs are born to be cucks
Century of humiliation saudis and gulf Arabs are in Uncle Sam’s pocket while Iraq is getting looted perfected the tactics of the British empire

I remember reading an old book it said when the ottomans were collapsing American oil men sent by Rockefeller were snooping around disguised as tourists 😂
 

The truth seeker

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it’s pretty disgusting this what they want to do to us
Won’t happen to Somalia the west learned there lesson in 1991 other Africans and Arabs are so much easier to control
 
One month of exploration left. After that. We will find out if Somalia has oil. If we dont GG. I dont see anyway to defeat AS without resources
 
One month of exploration left. After that. We will find out if Somalia has oil. If we dont GG. I dont see anyway to defeat AS without resources
Turkey for sure already knows if there's oil or not. They're 75% done with scanning; It's a matter of how much. I think it will be 15-20 billion barrels total. Not too shabby.
 
Turkey for sure already knows if there's oil or not. They're 75% done with scanning; It's a matter of how much. I think it will be 15-20 billion barrels total. Not too shabby.
We definetly got decent amount. As long as that resource wont turn Somalia into military dictatorship. Because strong army is needed in Somalia. Especially HOF
 
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