S&P expects Mozambique LNG restart to ease fiscal pressure after 2030

S&P: S&P Global Ratings provides credit ratings, research, and economic assessments for sovereigns, corporations, and projects globally. Its recent analysis of Mozambique notes that the LNG project restart supports long-term economic prospects while highlighting persistent near-term fiscal challenges. This evaluation informs investor views on the country's debt sustainability and growth trajectory. Mozambique LNG: Mozambique LNG is the TotalEnergies-led liquefied natural gas development in Cabo Delgado province, encompassing gas fields and liquefaction facilities. The project resumed full onshore and offshore construction activities in early 2026 after lifting force majeure declared in 2021 due to security concerns. Its phased progress aligns with broader efforts to stabilize and develop Mozambique's energy sector. Fiscal Outlook: Resource project developments are viewed as contributors to easing government budgetary strains over an extended horizon. Security Context: Improved conditions in Cabo Delgado, aided by continued international security cooperation, enabled the resumption of major energy project activities. Complementary Projects: Shared infrastructure and security synergies are supporting progress on related LNG initiatives in the same region.