EXIM provides loan for natural gas project in Mozambique

(MACAUHUB, Macau, 30 September 2019) Despite overwhelming evidence that the proect will emit at least 5.2 million tons of carbon dioxide per year, causing climate chaos, the US Export and Import Bank has approved a US$5 billion loan to support the export of domestic goods and services for the various phases of construction and development of the integrated liquefied natural gas project in northern Mozambique. Outlining the economic benefits to the USA, the EXIM statement issued in Washington said that this loan will support an estimated 16,400 jobs over the five-year period of the construction of the two natural gas processing plants and additional supplier facilities in the states of Texas, New York. York, Pennsylvania, Georgia, Tennessee, Florida, and the District of Columbia. The bank added that granting this loan would represent US$600 million in revenue to the US Treasury, including fees and interest charged to the borrower, the Mozambique LNG1 Financing Company Ltd. This company, which is owned by a group of sponsors, previously included the Anadarko Petroleum Corporation group, acquired in August by US group Occidental Petroleum Corporation.