TotalEnergies says Mozambique LNG is 45% complete, targets first train start-up in 2029
AI Market Summary
TotalEnergies said Mozambique LNG is ~45% complete and still targets first-train start-up in 2029, while the Coral Norte FLNG expansion aims to lift output from 2028 and Exxon's Rovuma LNG (Area 4) targets FID in September. The reaffirmed timeline and multi-project capacity build add to expectations of meaningful future LNG supply growth, a medium-term overhang for natural gas-linked pricing and LNG shipping/procurement dynamics.
Impact level
● Medium
Affected assets
NCCO7241NATGAS2USD/USDT+1.02%
AI Insight · NCCO7241NATGAS2USD/USDTAI Insight
▼ Bearish
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Mozambique’s flagship LNG project is about 45% complete, with the first train still expected to start production in 2029. The second floating LNG platform, Coral Norte, has secured US$7.2 billion of investment and is expected to lift capacity to seven million tonnes a year from 2028. A separate US$30 billion (€26.1 billion) Rovuma LNG development in Area 4 will be led by ExxonMobil as delegated operator, with a final investment decision scheduled for September. The projects are seen as a major source of new global LNG supply and closely watched by markets for pricing and supply-chain expectations.
