On Thursday, the Export-Import Bank of USA authorized the widening of the scope of a loan of 5 billion dollars granted last October on behalf of the Mozambique LNG gas liquefaction project. An operation linked to reports that China and Russia are also planning to contribute funding.

“We have learned that China and Russia are considering funding this agreement. It’s a great example of how the Bank, strengthened by President Trump’s leadership and bipartisan support from Congress, can help ensure the use of “made in the USA” products and services, without losing ground to countries like China and Russia, ” said Kimberly Reed, president of the funding institution.

One of the major objectives of Export-Import Bank in the field of trade, is to advance the leadership of the United States in the world compared to China.

This $ 5 billion financing will notably support American service companies involved in the project such as McDermott International, and especially to preserve nearly 17,000 jobs in the United States, during the 5 years of construction of the plant.

Mozambique LNG will produce 12.9 million tonnes per year of LNG, likely from 2025.


Source: Agence Ecofin