PARIS (Reuters) -French oil major TotalEnergies will be able to restart its Mozambique LNG project quickly, with a budget at $20.5 billion, CEO Patrick Pouyanne told investors on Thursday. Pouyanne
TotalEnergies Confirms Mozambique LNG Project Budget at $20.5 Billion
Overview of Mozambique LNG Project
PARIS (Reuters) -French oil major TotalEnergies will be able to restart its Mozambique LNG project quickly, with a budget at $20.5 billion, CEO Patrick Pouyanne told investors on Thursday.
CEO's Statement on Budget
Pouyanne said media were incorrectly interpreting his letter to Mozambique's president, which requests approval for a cost increase of $4.5 billion related to the project's four-year freeze under force majeure.
Clarification on Cost Increase
"I want to be very clear and strong on this point, the budget was around $15.5 billion previously, $4.5 billion is what we've spent in these past years. So the total is not $25 billion but $20.5 billion," Pouyanne said.
Future of the Project
(Reporting America Hernanez, Editing by GV De Clercq)
