Arrests could hamper Mozambique LNG funding
The impoverished country still faces scrutiny over its ability to handle multi-billion-dollar projects
High profile arrests in early January related to Mozambique's "hidden debts" scandal, made at the request of US prosecutors, are an unsettling reminder that the country still faces questions over its financial credibility. It is something those trying to fund LNG projects based on the massive gas reserves of the Rovuma basin could do without. In early January, former finance minister Manuel Chang was arrested in South Africa, three former Credit Suisse Group bankers were arrested in London and one executive of Lebanese shipbuilding group Privinvest was detained in New York. They face charges in the US linked to a long-running fraud investigation of $2bn in loans to Mozambican state-linked co
Also in this section
15 October 2024
UAE energy minister warns oil sector of the chaos that may ensue without OPEC+ market management
14 October 2024
The country is looking to position itself as a bridge for gas supplies from east to west, but whether Europe will need this gas remains to be seen
11 October 2024
Industry investing in significant pipeline infrastructure to further improve the efficiencies of its network and cut costs
10 October 2024
The Gulf Energy Information Excellence Awards 2024 celebrated the industry's top innovators at a gala in Houston, recognising achievements in categories ranging from digital transformation to sustainability
