The US Export-Import Bank (EXIM) has approved a $4.7 billion loan for Mozambique LNG project, led by TotalEnergies, providing a boost to one of Africa's most significant energy investments.

The reauthorisation of this funding marks a pivotal moment in the ongoing development of Mozambique's natural gas resources, which have the potential to transform the nation's economy and solidify Africa's position in the global energy market.

The African Energy Chamber (AEC) has expressed its gratitude to the Trump administration for its support to the project.

The project, which has been on hold since 2021 due to security concerns in the Cabo Delgado province, targets approximately 65 trillion cubic feet of recoverable natural gas and plays a crucial role in the global transition to more sustainable energy sources.

"The AEC encourages ongoing collaboration between governments, investors and development partners to ensure the successful delivery of the Mozambique LNG project and similar ventures across Africa," says NJ Ayuk, Executive Chairman, African Energy Chamber, adding "The support of the US government, along with the efforts of TotalEnergies and other key stakeholders is essential in driving Africa’s transition to a more diversified and sustainable energy future."