MAPUTO, Jan 17 – Mozambique’s President Daniel Chapo has confirmed the government will not revise the terms of liquefied natural gas (LNG) projects with energy giants TotalEnergies and ExxonMobil.
The statement comes as Mozambique relies heavily on these energy ventures to boost its economy and stabilize public finances. Chapo, who took office on Wednesday after a contested election and protests, emphasized that the contracts with TotalEnergies and ExxonMobil are still in the investment phase and have not yet begun full production.
Addressing TotalEnergies’ $20 billion LNG project in Cabo Delgado, which was delayed due to an Islamist insurgency, Chapo made it clear there were no plans to revisit the terms since the project is still in the investment stage.
Chapo, formerly the governor of Inhambane, is expected to act swiftly to solidify his authority following protests and unrest over his election win.
On security, Chapo noted that TotalEnergies and ExxonMobil are aiming to resume work on their LNG projects as the security situation in Cabo Delgado improves, despite occasional insurgent activity.
Earlier in the day, Chapo appointed Estevao Pale as the new Minister of Energy and Mineral Resources. Pale, who previously led Mozambique’s national oil company ENH, is part of Chapo’s newly formed cabinet.
Addressing the opposition’s concerns over his election, Chapo called for dialogue to resolve the disputes.
