Patrick Pouyanne, TotalEnergies CEO
Rising costs threaten Mozambique LNG
As security improves, TotalEnergies has other concerns
TotalEnergies’ stalled Mozambique LNG project may face further delays, despite improvements to the security situation in the region. The French major halted the onshore development and declared force majeure in April 2021 following deadly attacks by insurgents. CEO Patrick Pouyanne has now expanded the criteria for the project to resume, going above and beyond his previous statements which only emphasised security. Speaking at the TotalEnergies’ annual results presentation, Pouyanne describes his recent visit to Mozambique — and the Cabo Delgado province in particular — saying “what I have seen of the security situation is good”. “If costs keep going up, we will wait” Pouyanne, TotalEn
Also in this section
3 October 2024
The formation’s gas-to-oil ratio is set to keep rising, but new markets and midstream plans mean infrastructure constraints may not be an issue
2 October 2024
Geopolitical strife embroiling Iran and political corruption in Venezuela suggest little near-term change to oil production from either of the sanctioned states
1 October 2024
Our look into Petroleum Economist's archives continues with October 1960 coverage of another key moment in the history of oil and gas: the founding of OPEC
1 October 2024
In an age of ‘poly crisis’ and ‘radical uncertainty’ the only thing we can say about the future is that it will not be business as usual
