French energy major Total has secured $14.4 billion funding for its Mozambique liquefied natural gas project in Mozambique, two sources said on Wednesday.
A source with knowledge of the matter said Total has reached a financing agreement with a group that includes around 20 lenders for the first phase of senior debt funding of $14.4 billion. The source did not specify the name of the banks involved in the financial arrangement.
Total declined to comment. Bloomberg reported earlier on Wednesday that Total was set to sign $15 billion financing for the project in June.
Total concluded the acquisition of Anadarko’s 26.5% interest in the Mozambique LNG project for $ 3.9 billion in September. It is expected to start production in 2024.
The Oriental Pro-Energy Consulting Organization (Topco)
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