France's TotalEnergies has announced another delay to its $20 billion liquefied natural gas (LNG) project in Mozambique, citing ongoing security concerns in the restive Cabo Delgado province, the Financial Times said on Wednesday.
The project, initially halted in 2021 due to an Islamist insurgency, now faces additional setbacks after violence erupted following October's disputed presidential election, the report read.
The company told the Financial Times that plans to restart operations by the end of 2024 have been pushed back, jeopardizing its goal of beginning production by 2029.
"The priority is to restore peace and security in Cabo Delgado and the lifting of the force majeure," the company was quoted as saying.
TotalEnergies emphasized that it requires "public services" and "normal life" to return to the region before work can continue. Cabo Delgado has been plagued by insurgent violence, with militants linked to Daesh* disrupting local communities and deterring foreign investments.
*Daesh (also known as ISIS/ISIL/IS) is a terrorist organization outlawed in Russia and many other states