Mozambique LNG project is 40% complete, and it is expected to start up in 2029, TotalEnergies has said, adding that lifting of the force majeure, which it declared over the project in 2021, is imminent.
Mozambique LNG project is 40% complete, and it is expected to start up in 2029, TotalEnergies has said, adding that lifting of the force majeure, which it declared over the project in 2021, is imminent because it was convinced that security in the project’s region (Afungi Peninsula) would be safe to bring back the contractors and resumption of the construction activities.
TotalEnergies has also revealed that it is pursuing the Mozambique LNG project’s expansion plan, which would add new LNG to its supply profile beyond 2030.
According to the Global LNG Database®, the 12.88 MMT/Y Mozambique LNG project’s main contractors are McDermott, Saipem and Chiyoda (via CCS JV consortium).
The project’s construction started in 2019 but was suspended after a March 2021 terrorist attack on the town of Palma, on the doorstep of the project. In April 2021, TotalEnergies declared forcemajeure on the project and has removed all staff from the project’s site.
Last year, TotalEnergies revised the engineering, procurement and construction (EPC) cost of the project’s gas treatment and liquefaction facilities. However, the company’s CEO Patrick Pouyanne has reiterated that the project “remains profitable”.
Global LNG Info Analytics predicts that the Mozambique LNG project’s first train could be commissioned and export its first cargo in the first quarter of 2030.
Meanwhile, TotalEnergies has said that the next LNG supply wave will soften prices. However, it also fosters demand given strong price elasticity, particularly in Asia. “Previous LNG supply waves were absorbed in 2-3 years.”
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