RBR Group Limited (ASX:RBR) Announces Mozambique LNG Project Update
Loan Approval for Mozambique LNG Project
RBR Group Limited (ASX:RBR) announced that the US Export-Import Bank has approved a nearly US$5 billion loan for the Mozambique LNG Project, operated by TotalEnergies. This approval is a significant step towards revitalising the world-scale project, establishing Mozambique as a major LNG producer.
Industry Developments
The Mozambique LNG project is one of two major LNG projects in the country, alongside ExxonMobil’s Rovuma LNG project. ExxonMobil plans to accelerate work at Rovuma, intending to take FID in the first half of 2026, with contracts expected to be awarded in June 2025.
Executive Comments
Mr Ian Macpherson, Executive Chairman of RBR Group Limited, stated, “The approval of the loan from Export-Import Bank to Mozambique LNG points to what RBR anticipates to be a reinvigoration of development activities for this world-class resource project. It likewise corresponds with the increased level of commercial enquiries we are seeing in media and expressions of interest; requests for proposals related to the various LNG related projects. The RBR team in Mozambique has its finger on the pulse in terms of project developments and contracting opportunities aligned with the group’s camp construction, training and labour hire businesses and is strongly positioned to take advantage of a lifting of force majeure at these two major LNG projects and development work recommencing in earnest.”
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