Browsing: Mozambique LNG

Export-Import (EXIM) bank United States said it is in the process of providing  $4.7 billion in financing the liquefied natural gas (LNG) project in Mozambique.

Exim Bank United States fund is the largest commitment given by any lender towards the priciest hydrocarbon development in Africa.

The 13 Million Tonnes Per Annum LNG project will cost $20 billion to develop but Total which is in charge of the project is borrowing $14 billion from 28 financiers.

EXIM bank is one of eight Export Credit Agencies financing the project include Japan Bank for International Corporation (JBIC), Nippon Export and Investment Insurance (NEXI), UK Export Finance (UKEF), Servizi Assicurativi del Commercio Estero of Italy (SACE), Export Credit Insurance Corporation of South Africa (ECIC), Atradius Dutch State Business (Atradius) and Export-Import Bank of Thailand (EXIM Thailand).

There are 19 commercial banks financing the project in which Standard Bank of South Africa, is leading with …

The African Development Bank signed a senior loan of $400 million to co-finance the construction of Mozambique’s integrated Liquefied Natural Gas (LNG).

The Mozambique LNG Area 1 Project is ranked Africa’s single largest foreign direct investment to date estimated to cost over $20 billion. The project comprises of a global team of energy operators and developers led by ONGC Videsh Limited, Total alongside Mitsui, Bharat Petroleum, PTT Exploration, Oil India and ENH, Mozambique’s national oil and gas company.

The project includes both offshore and onshore components which will be covered by a combination of over $14 billion in senior debt facilities, equity and pre-completion cashflows. The senior debt facility consists of a mix of commercial bank loans, African development bank loan and Export Credit Agency (ECA) direct loans

LNG benefits from one of the world’s largest natural gas reserves off the coast of northern Mozambique. Its financial close is expected …