UK Withdraws $1.1 Billion Support for Mozambique LNG Project ...Middle East

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UK Withdraws $1.1 Billion Support for Mozambique LNG Project
source : OILPRICE ( Middle East ) () 58
The UK government has decided to withdraw a $1.1-billion loan guarantee for TotalEnergies’ Mozambique LNG project as risks have increased and it is no longer in the interest of the UK or its taxpayer. UK Export Finance (UKEF), the UK government’s export credit agency, pledged in 2020 a $1.15-billion financing guarantee to the $20-billion Mozambique LNG project.  “After a detailed review, the UK Government has decided to end UKEF’s participation in the project,” Peter Kyle, Secretary of State for Business and Trade,…

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