AfrOil: Environmentalists urge banks not to support Mozambique LNG

A consortium of more than 100 environmental lobby groups has urged the organisations providing funding to Mozambique LNG, a natural gas project led by TotalEnergies (France), to withdraw their support over likely adverse climate change impacts and human rights abuses.

On November 17, Reuters reported that the group, which counted Greenpeace France and ActionAid International among its members, had sent a letter to more than 24 financial institutions urging them to stop backing the $20bn project.

“As a critical financial supporter of the project, you bear a direct and important responsibility [for] its dreadful impacts,” said the letter in part.

The TotalEnergies-led consortium secured funding for the 13mn tonne per year (tpy) LNG project in northern Mozambique in 2020. The agreements entailed direct and covered loans from eight export credit agencies, 19 commercial banks and the African Development Bank (AfDB).