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Mozambique: Total secures Africa’s biggest project financing

Total on 17 July announced the signing of a $14.9bn senior debt financing agreement for Mozambique’s first onshore LNG development. The project financing for the $20bn development is the biggest ever secured in Africa and includes direct and covered loans from eight export credit agencies (ECAs) and 19 commercial bank facilities, and a $400m loan from the African Development Bank.

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