Sovereign Analysis /
Mozambique

Mozambique: Total announces two-year delay to first gas following force majeure

  • TotalEnergies confirm a two-year delay to Mozambique LNG production, with first gas now seen in 2026

  • Project activity is expected to resume in 2022 following the force majeure that was declared in April

  • Better visibility over LNG timeline to support bonds, along with low debt service, SDR allocation and DSSI; maintain Buy

Mozambique: Total announces two-year delay to first gas following force majeure
Stuart Culverhouse
Stuart Culverhouse

Head of Sovereign & Fixed Income Research

Tellimer Research
29 September 2021
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