UK Scraps $1 Billion of Support for Total’s Mozambique LNG

The UK government withdrew financing of more than $1 billion for TotalEnergies SE’s liquefied natural gas facility in Mozambique, just as the company looks to resume construction.

The project, previously hailed as Africa’s biggest private investment, was put on hold by Total in 2021 after Islamic State-linked militants attacked the nearby town of Palma, in northeast Mozambique. The French major has taken steps in the past year toward restarting the development, including seeking the reapproval of key financing.