AGP Executive Report
Last update: 8 hours agoMozambique LNG Dispute: Mozambique pushes back on TotalEnergies’ claim that LNG delays cost $2bn, saying an audit can’t confirm the overruns and negotiations continue over the updated development plan. Energy & Fiscal Resilience: The government approved using 3.57bn meticais from accumulated oil and gas revenues to fund post-unrest recovery and flood/cyclone reconstruction, without drawing on the sovereign wealth fund. EU Investment Push: The EU plans to mobilize over €300m for Mozambique under Global Gateway, with funding focused on energy and agribusiness through events in June. Fuel Smuggling Crackdown: Mozambique Police seized a Matola-bound truck carrying 40,000 litres of fuel suspected for illegal export to South Africa, amid recent fuel price increases. Foreign Currency Pressure: CIP urged measures to reduce Mozambique’s vulnerability to forex shortages and exchange-rate swings, warning they are driving shutdowns and job losses across productive sectors. Blue Economy: Mozambique highlighted sustainable blue-economy management at a marine science forum, linking offshore gas progress to future knowledge and innovation. Regional Trade Risk: Mozambique’s LNG and energy plans sit alongside wider supply shocks from the Iran war, which are also roiling aluminium markets and raising costs for construction and manufacturing.
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