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Mozambique Troops Repel Attack Near $20 Billion LNG Project

December 31, 2020 by Forex Winner Leave a Comment

Mozambique Troops Repel Attack Near $20 Billion LNG Project

Mozambique security personnel repelled an attack by Islamic insurgents on a town close to the site where Total SE is building a $20 billion natural gas facility, Bloomberg reports. The attack occurred about 21 kilometers (13 miles) from Total’s project overnight on Wednesday.

  • The attack near the LNP project is the second this month on the town of Mute in the northern Cabo Delgado province.
  • Mozambique’s Ministry of Defense accused the militants of trying to derail the investment.
  • In August, the fighters, aligned with Islamic State, seized the port town of Mocimboa da Praia, about 42 kilometers South of Mute.
  • Three years ago, a conflict with the insurgents killed about 2,500 people and caused 570,000 to flee their homes.
  • Mozambique government has struggled to contain the insurgency, and President Filipe Nyusi has been criticized for refusing outside help.
  • Leaders from the Southern African Development Community are set to meet in January to agree on a plan to prevent the conflict from spilling across Mozambique’s borders.

Natural gas futures are currently declining. NG! is down 3.45%

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