Latest news with #PatrickPouyanne
Zawya
19 hours ago
- Business
- Zawya
Mozambique energy minister optimistic on TotalEnergies' plan to resume LNG project
TOKYO - Mozambique's energy minister said on Friday the government has not received a request from TotalEnergies to lift a force majeure declaration on its $20-billion liquefied natural gas (LNG) project there, but he is optimistic about the oil major's plan to resume its development this summer. The force majeure will be lifted as soon as the project's operator determines conditions are in place to resume operations, Minister of Mineral Resources and Energy Estevao Pale told reporters in Tokyo, after meeting with Japan's industry minister, Muto Yoji. "We, as government, are doing everything that we can to be able to resume the project," Pale said. "We are working together with all partners on the project to create the security conditions favourable to restart the project," he said, adding that security conditions have improved considerably. TotalEnergies Chief Executive Patrick Pouyanne had said at an energy conference in Tokyo on Wednesday that he expects the project to resume development "this summer". Covered by force majeure since 2021 following insurgent attacks, the Mozambique LNG project includes development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession and the building of a two-train liquefaction plant. The plant will have an annual capacity of 13.12 million metric tons. French oil and gas giant TotalEnergies is the project's operator with a stake of 26.5%, followed by Mitsui & Co with 20%. Mozambique's state-owned ENH has 15%, and Indian state companies and Thailand's PTTEP own the rest. (Reporting by Yuka Obayashi in Tokyo; Writing by Emily Chow in Singapore; Editing by Jacqueline Wong and Tom Hogue)
Reuters
19 hours ago
- Business
- Reuters
Mozambique energy minister optimistic on TotalEnergies' plan to resume LNG project
TOKYO, June 20 (Reuters) - Mozambique's energy minister said on Friday the government has not received a request from TotalEnergies ( opens new tab to lift a force majeure declaration on its $20-billion liquefied natural gas (LNG) project there, but he is optimistic about the oil major's plan to resume its development this summer. The force majeure will be lifted as soon as the project's operator determines conditions are in place to resume operations, Minister of Mineral Resources and Energy Estevao Pale told reporters in Tokyo, after meeting with Japan's industry minister, Muto Yoji. "We, as government, are doing everything that we can to be able to resume the project," Pale said. "We are working together with all partners on the project to create the security conditions favourable to restart the project," he said, adding that security conditions have improved considerably. TotalEnergies Chief Executive Patrick Pouyanne had said at an energy conference in Tokyo on Wednesday that he expects the project to resume development "this summer". Covered by force majeure since 2021 following insurgent attacks, the Mozambique LNG project includes development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession and the building of a two-train liquefaction plant. The plant will have an annual capacity of 13.12 million metric tons. French oil and gas giant TotalEnergies is the project's operator with a stake of 26.5%, followed by Mitsui & Co (8031.T), opens new tab with 20%. Mozambique's state-owned ENH has 15%, and Indian state companies and Thailand's PTTEP ( opens new tab own the rest.
Business Recorder
3 days ago
- Business
- Business Recorder
TotalEnergies CEO expects to restart Mozambique LNG project this summer
TOKYO: TotalEnergies expects its $20-billion Mozambique liquefied natural gas (LNG) project to resume development 'this summer', Chief Executive Patrick Pouyanne said on Wednesday. He was asked about the timing during a session at the Japan Energy Summit in Tokyo. Covered by force majeure since 2021, following insurgent attacks, the project includes development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession and the building of a two-train liquefaction plant. WGC-TotalEnergies CEO will propose lifting force majeure on Mozambique LNG project The project will have a capacity of 13.12 million metric tons per annum. TotalEnergies is the project's operator with a stake of 26.5%, followed by Mitsui & Co. with 20%, while Mozambique's state-owned ENH has 15%. Indian state firms and Thailand's PTTEP own the rest.
Bloomberg
3 days ago
- Business
- Bloomberg
TotalEnergies Says It Can Replace Russian Gas With Growing LNG Supply
TotalEnergies SE sees abundant alternatives to Russian gas as the European Union proposes a ban on all deliveries from the country by the end of 2027. "The good news is that the LNG market will be well supplied from 2027, 2028 and 2029,' the company's Chief Executive Officer Patrick Pouyanne says at an energy conference in Tokyo. (Source: Bloomberg)
Reuters
3 days ago
- Business
- Reuters
TotalEnergies CEO expects to restart Mozambique LNG project this summer
TOKYO, June 18 (Reuters) - TotalEnergies ( opens new tab expects its $20-billion Mozambique liquefied natural gas (LNG) project to resume development "this summer", Chief Executive Patrick Pouyanne said on Wednesday. He was asked about the timing during a session at the Japan Energy Summit in Tokyo. Covered by force majeure since 2021, following insurgent attacks, the project includes development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession and the building of a two-train liquefaction plant. The project will have a capacity of 13.12 million metric tons per annum. TotalEnergies is the project's operator with a stake of 26.5%, followed by Mitsui & Co (8031.T), opens new tab with 20%, while Mozambique's state-owned ENH has 15%. Indian state firms and Thailand's PTTEP ( opens new tab own the rest.
