TotalEnergies CEO Patrick Pouyanne said on Wednesday that financing from the United States for its $20 billion Mozambique LNG project is expected to be approved in coming weeks, with other credit agencies to follow in the months after.

TotalEnergies SE Chief Executive Officer Patrick Pouyanne said he expects the US Export-Import bank to finish approval of $4.7 billion in financing for its Mozambique liquefied natural gas project in a matter of weeks under President Donald Trump.

The UK government is seeking legal advice on whether it is still obligated to provide $1.15 billion in funding for the Mozambique LNG project, given the project's delays and the government's shift away from fossil fuel investments.

Mozambique's President Daniel Chapo met with Patrick Pouyanne, the chief executive of TotalEnergies, on Monday to discuss several of the company's projects in the southern African country, including a long-delayed $20 billion liquefied natural gas development.

The setback — first noted by the Financial Times and corroborated by Reuters — follows political instability in Mozambique and the revelation by POLITICO that Mozambican soldiers operating out of TotalEnergies' natural gas plant abducted, raped and killed dozens of civilians.

The $4.7bn EXIM loan awaits reapproval after construction was halted in 2021 due to conflict in Cabo Delgado near the project site.

TotalEnergies chief executive was due to convene with Daniel Chapo shortly after early October election, but months of political violence forced a delay