The Japan Bank for International Cooperation (JBIC) has approved a US$3bn loan agreement for the Mozambique LNG project, completing the US$14.4bn financing for the project, which has also received financial support from the African Development Bank (AfDB), the Export-Import Bank of the United States (US-Exim), UK Export Finance (UKEF), the Export-Import Bank of Thailand (Exim Thailand) and 21 private financial institutions. In June 2020, the government of Mozambique offered a US$2.25bn state guarantee to the project in lieu of an immediate equity contribution from the state-owned National Hydrocarbon Company (ENH).
The project is owned by Total (26.5%, stake acquired from Anadarko in October 2019), Mitsui (20%), ENH (15%), Beas Rovuma Energy Mozambique (10%), OVL (10%), BPRL Ventures Mozambique (10%), and PTTEP (8.5%). The project is the first LNG development in Mozambique and includes the construction of two liquefaction trains with a combined capacity of 13 Mt/year, with commercial operations expected to start by 2024.
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