• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Environmentalists urge financiers to halt funding for TotalEnergies’ Mozambique project

2 years ago
in Economy, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
89
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

Environmentalists urge financiers to halt funding for TotalEnergies’ Mozambique project

Environmental lobby groups have sent a letter urging banks and other financiers to withdraw their support for TotalEnergies’ $20 billion liquefied natural gas (LNG) terminal in Mozambique.

The letter, sent to over two dozen project funders, coincides with a crucial moment for the French energy company as it readies to resume Africa’s largest foreign direct investment project.

Activists caution that the project may exacerbate climate change and contribute to human rights abuses in the impoverished southern African nation.

“As a critical financial supporter of the project, you bear a direct and important responsibility in its dreadful impacts,” the letter, supported by more than 100 organisations, including ActionAid International and Greenpeace France, said.

According to Reuters, last month, Dutch lawmakers announced their insistence on being consulted regarding safety and human rights concerns before approving a 1 billion euro ($1.06 billion) loan guarantee for the project, which has been stalled since April 2021.

Applauding the Dutch decision as a significant signal, Lorette Philippot, private finance campaigner with Friends of the Earth France, said activists are “hopeful that other financiers will conduct proper assessments and withdraw from this time bomb project,”

TotalEnergies stated that the arrangements remained unchanged from their previous statements, emphasising that project finance remains in place despite a ‘force majeure’ halt in 2021 when Islamist militants posed threats to the project site.

Currently, around $15 billion in financing is under review as part of the restart procedures, according to a credit official familiar with the ongoing negotiations.

South Africa’s Export Credit Insurance Corporation is planning to seek board approval early next year to support the project, as mentioned by acting CEO Ntshengedzeni Maphula.

The delay in the project has prompted some investors to reassess their previous cost assumptions in response to inflation and fluctuations in the global gas market.

The U.S. Exim bank, responsible for guaranteeing $5 billion, has stated that it is currently conducting due diligence on plans to resume construction.

No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.