
Newly inaugurated President Daniel Chapo has reassured investors, including energy giants TotalEnergies and ExxonMobil, that the Mozambican government will not renegotiate the terms of planned liquefied natural gas (LNG) projects.
Chapo emphasized that these projects are crucial for the country’s economic development and that the contracts have not yet come into force.
The country has been working towards developing its significant natural gas reserves, with these projects expected to significantly boost Mozambique’s economy.
Security concerns in the northern Cabo Delgado province, where the projects are located, had previously stalled development. However, with the security situation improving, these projects are poised to resume.
President Chapo also addressed the recent political unrest in the country, stating that dialogue is the only path forward to resolving the issues raised by opposition groups.
He also acknowledged the challenges posed by illegal mining activities, referencing the recent situation in South Africa.
This statement from the new president is crucial for reassuring investors and ensuring the smooth implementation of these vital energy projects for Mozambique’s economic future.