Skip to content
Market intelligence
Issuer developmentsMozambiqueDeveloping story

TotalEnergies restarts Mozambique Area 1 LNG; first gas targeted for 2029

TotalEnergies formally restarted construction at the Mozambique LNG Area 1 site on 29 January 2026 and has since mobilised pipeline and construction activity, with first LNG production now targeted for 2029. Physical offshore pipeline installation began in September 2026, signalling a move from planning to execution.

TotalEnergies formally restarted construction at the Mozambique LNG Area 1 site on 29 January 2026 and has since mobilised pipeline and construction activity, with first LNG production now targeted for 2029. Physical offshore pipeline installation began in September 2026, signalling a move from planning to execution.

If execution and financing hold, the restart and September 2026 start of offshore pipeline installation raise the probability of sizeable LNG-linked export revenues for Mozambique around 2029. That could materially improve the countrys medium‑term fiscal position, but the transmission to sovereign credit depends on timely first gas, secured buyer contracts, capital cost resolution, and continued security funding for Cabo Delgado.

Deepwater offshore campaign planned in Q2 2027 and the 2029 first‑gas milestone.

Sources & verification

Developing story

Further independent confirmation is required.

Public references supporting this brief.

Was this brief useful?
Back to the briefing

Price Discovery

Mozambique sovereign curve

Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.

1 priced bond
11.50%11.46%11.41%11.37%11.32%2031Moz 31 · Sept 2031 · 11.415%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Moz 31Sept 203191.12511.415%

Indicative levels only. Full bid/ask context and trading actions remain inside MSA Trader.

Open Price Discovery
All market intelligence