TotalEnergies failed to convince Biden admin to unblock $5B in loans, FT says

TotalEnergies (TTE) failed to convince the Biden administration to unblock approximately $5B in loans for its Mozambique Liquefied Natural Gas, LNG, project, Ian Johnston, David Pilling, and Jim Pickard of The Financial Times reports. In letters sent in December, TotalEnergies CEO Patrick Pouyanne asked Biden’s secretary of state Antony Blinken, national security adviser Jake Sullivan and secretary of commerce Gina Raimondo to help approve the financing for the $20B LNG development by January 20. Pouyanne was concerned the transition to the Trump administration would lead to “additional and lengthy delays.”