"The UK government has withdrawn its backing for a $1.15bn (£870m) loan to a major gas development in Mozambique, citing escalating concerns over climate impact, human rights violations and the deadly insurgency that engulfed the region. Business secretary Peter Kyle confirmed on Monday that the UK Export Finance (UKEF) agency would pull its support for the long-delayed Mozambique liquified natural gas project, led by French energy giant TotalEnergies."
"The company is preparing to restart work in the coming months after enhanced security measures were deployed in the area. Kyle said UKEF's withdrawal followed "a comprehensive assessment of the project and the interests of UK taxpayers ", adding: "Whilst these decisions are never easy, the government believes that UK financing of this project will not advance the interests of our country.""
The UK government withdrew backing for a $1.15bn (£870m) loan to the Mozambique liquified natural gas project, citing climate impact, human rights violations and a deadly insurgency. UKEF confirmed the agency would pull support for the long-delayed project led by TotalEnergies. The scheme has been frozen since 2021 after Islamist militants attacked Palma, killing more than 800 people and forcing evacuations. TotalEnergies plans to restart work following enhanced security measures. The loan was initially approved in 2020 amid arguments that the project could support UK jobs, benefit small businesses and deliver economic development for Mozambique.
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