LNG

TotalEnergies has requested a 10-year extension to its Mozambique LNG concession, citing a $4.5 billion rise in project costs. The French energy giant now estimates the project’s total cost at $24.5 billion, up from $20 billion, as it prepares to restart operations suspended in 2021 after militant attacks in Cabo Delgado province. CEO Patrick Pouyanné said the four-year delay under force majeure significantly affected cost and timelines.