Environmental groups are urging banks and financiers to withdraw their support for TotalEnergies’ $20 billion liquefied natural gas (LNG) terminal project in Mozambique. The call, supported by over 100 organizations, including ActionAid International and Greenpeace France, emphasizes concerns about the project’s potential contribution to climate change and human rights abuses.
Lawmakers in the Netherlands recently signaled a similar stance, insisting on consultations regarding safety and human rights before approving a €1 billion loan guarantee. TotalEnergies maintains that project finance arrangements are intact despite a previous halt due to security threats. While some financing is under review for restarting procedures, the project delay has prompted investors to reassess cost assumptions.
The US Exim bank, guaranteeing $5 billion, is conducting due diligence on plans to resume construction. This development adds to the ongoing debate over the environmental and social impacts of major energy projects. (Credit: France 24)