French oil major Total has reportedly secured $15.8bn in funding from South African lender FirstRand’s local unit, FNB Mozambique for the LNG project in northern Mozambique.
The $20bn Mozambique LNG project comprises the Golfinho-Atum gas field development in the offshore Area 1 Block of the deep-water Rovuma Basin.
It also includes the construction of a 12.88 million tonnes per annum (Mtpa) onshore LNG facility on the Cabo Delgado coast of Mozambique.
Reuters quoted FNB Mozambique as saying: “FNB intends to enter other large natural gas projects in Mozambique, just as it entered into Total’s financing, in a consortium of 20 banking institutions that granted $15.8 billion, for which the last contracts were signed last Friday.”
Other partners in the project include Mitsui, Oil India, ONGC Videsh, Bharat Petroleum, PTT Exploration, and Mozambique’s national oil and gas company ENH.
In March 2020, Air Products secured a contract to provide its LNG technology, equipment and related process license and advisory services for the Mozambique LNG project.
Air Products has secured the contract from EPC contractor CCS JV, which is formed by a joint venture comprised of affiliates of Saipem, McDermott and Chiyoda.
Under the contract, Air Products will be responsible for the supply of two of its coil wound main cryogenic heat exchangers (MCHE) for the project, is planned to be commissioned by 2024.
In November last year, the African Development Bank (AfDB) approved a $400m loan to support the construction of the integrated LNG plant and a liquefaction facility in Mozambique.
