Mozambique reconfirms sovereign guarantee of 1.95 billion euros for gas megaproject

The Mozambican government has reaffirmed a sovereign guarantee of up to €1.95 billion for the Mozambique LNG project, extending its validity until March 2029. This decision, outlined in resolution No. 85/2026, maintains the maximum guaranteed amount and obligations while allowing the finance minister to issue a confirmation letter for the project. The measure aims to restore investor confidence following years of project suspension due to violence in Cabo Delgado. TotalEnergies resumed work on the project in January, which is expected to produce 13 million tons of LNG annually starting in 2029. Mozambique has three approved gas projects in the Rovuma basin, among the largest discoveries in recent decades.