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Stock impact report

Mozambique LNG : Clarification by TotalEnergies on Financing of the Project

TotalEnergies SE (TTE) 
Company Research Source: Business Wire
PARIS--(BUSINESS WIRE)--Further to the communications made by the UK and Dutch authorities regarding the involvement of their Export Credit Agencies, UK Export Finance (UKEF) and Atradius, in the financing of Mozambique LNG project, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) wishes to clarify the following:In 2020, Mozambique LNG concluded a project financing for a total amount of USD 15.4 billion with a group of approximately 30 lenders including Export Credit Agencies and commercial banks.Due to the prolonged Force Majeure period, Mozambique LNG has negotiated with the lenders an amended financing agreement in order to align the documentation with the updated project schedule. After the lifting of force majeure by Mozambique LNG, and the will of the consortium to resume the project, Mozambique LNG partners decided to proceed without the participation of UKEF and Atradius since these two Export Credit Agencies had not yet reconfirmed their commitment.The Mozambique LNG partne Show less Read more
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