TotalEnergies was close to lifting the force majeure on its $20 billion Mozambique LNG project, after a four-year suspension due to security concerns. However, this positive news was tempered by reports of a recent upsurge in violence from Islamist militants in the Cabo Delgado region, which has led to tens of thousands of new displacements.
Eni is preparing for a final investment decision on its $7.2 billion Coral North floating LNG project, which could come online by 2028.
Exxon Mobil is also monitoring the situation and plans to decide on its Rovuma LNG project by mid-2026.
If these projects proceed as planned, Mozambique could become a major global LNG exporter, potentially reaching 30 million tons per year by the early 2030.
