The board of the U.S. Export-Import Bank approved a nearly $5 billion loan for a long-delayed LNG project in Mozambique, clearing a key hurdle to restarting the project under development by French oil major TotalEnergies.

US President Donald Trump’s administration has unlocked almost $5bn in funding for a liquefied natural gas project by France’s TotalEnergies in Mozambique, potentially restarting work on one of Africa’s largest energy investments.

The U.S. Export-Import Bank is expected to approve the loan for a TotalEnergies facility that's located in a conflict zone.

U.S. President Donald Trump's administration has released almost $5 billion in funding for a liquefied natural gas project by France's TotalEnergies in Mozambique, the Financial Times reported on Thursday.

The U.S. Export-Import Bank has approved a nearly $5 billion loan to support the Mozambique LNG project, a significant step toward resuming the long-delayed development led by TotalEnergies (EPA:TTEF).