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An announcement from TotalEnergies SE ( (FR:TTE) ) is now available.
TotalEnergies and the government of Mozambique have announced the full restart of the Mozambique LNG project’s onshore and offshore activities at Afungi after lifting the force majeure declared in 2021, with construction now 40% complete and first LNG targeted for 2029. Backed by renewed security commitments from Mozambican authorities and cooperation with Rwanda, the project already employs over 4,000 workers—more than 3,000 of them Mozambican—and is expected to generate up to 7,000 direct local jobs during construction, award over USD 4 billion in contracts to Mozambican companies, and reinforce Mozambique’s status as an emerging regional energy hub and major future LNG exporter, supported by a USD 200 million foundation driving socio‑economic development in Cabo Delgado.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company active in about 120 countries, producing and marketing oil and biofuels, natural gas, biogas and low‑carbon hydrogen, as well as renewables and electricity. With more than 100,000 employees, it focuses on providing reliable, affordable and more sustainable energy, placing sustainability at the core of its strategy, projects and operations.
Learn more about TTE stock on TipRanks’ Stock Analysis page.