JOHANNESBURG (Reuters) – French oil major Total has secured $15.8 billion in funding for its massive liquefied natural gas (LNG) project in northern Mozambique, according to South African lender FirstRand’s local unit, FNB Mozambique. In a press release published on Wednesday, FNB Mozambique said the financing contracts for Total’s blockbuster development had been signed on Friday. While this was widely reported in local media at the time, Total has not confirmed the signing. FirstRand’s corporate and investment banking unit, Rand Merchant Bank (RMB), has previously said it was part of the consortium. The project, Mozambique LNG, is one of several being developed in the country’s extreme north following one of the largest gas finds in a decade off its coast.

Source: The North Africa Journal July 09, 2020 09:20 UTC