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API-Africa

US steps up competition against China with US$4.7 billion loan for Mozambique gas project

The construction of a multibillion-dollar liquefied natural gas plant in Mozambique is set to resume after the administration of US President Donald Trump approved a US$4.7 billion loan in a move to bolster American companies against their Chinese competitors in Africa. Last month, the US Export-Import Bank (Exim) reapproved the loan to support the export of American equipment and services for the development and construction of the US$20 billion liquefied natural gas (LNG) project on the Afungi Peninsula in northern Mozambique under the French oil company, Total Energies. South China Morning Post.