Mozambique Leader Says to Negotiate TotalEnergies LNG Cost Hikes

Mozambican President Daniel Chapo said the southeast African nation is considering a proposal by TotalEnergies SE to change the contract period and approve increased costs for its liquefied natural gas project.

Total Chief Executive Officer Patrick Pouyanné wrote to Chapo last week, seeking approval for a 10-year extension to the development contract and a $4.5-billion increase in charges to the project that’s been delayed since 2021 because of security issues, according to a letter seen by Bloomberg.