The French multinational, TotalEnergies, is discussing how it can finance India’s energy transition through substantial investments in natural gas infrastructure and renewable energy projects.
This comes at a time when the start-up of one of its largest liquefied natural gas (LNG) projects, in the Rovuma basin in Cabo Delgado province, northern Mozambique, remains uncertain. The resumption of the project in the country is dependent on security conditions after the ‘force majeure’ clause that led to the temporary suspension of activities at the Afungi logistics base, in the Palma district, following a terrorist attack in March 2021.
In an interview with Energy Connects, TotalEnergies CEO Patrick Pouyanné said that, given the size and potential of the market, India is the right place to implement the company’s energy transition strategy, based on two pillars: renewable energies and natural gas.
The announcement of the investments in India was made on the eve of ‘India Energy Week 2025’, an event that will bring together important players in the global energy sector.
‘At the moment, we are committed to supporting India’s change by investing in natural gas infrastructure and renewable energy projects, guaranteeing a reliable and sustainable energy supply for the future. India’s goals of reaching 500 GW of renewable energy capacity by 2030 and increasing the share of gas in the energy mix from 6 per cent to 15 per cent are aligned with those of our company,’ he argued.
According to him, the investments put the company in a good position to capture growth in the Indian market through participation in the LNG import infrastructure and the development of the entire natural gas value chain.
‘Our initiatives include expanding solar and wind energy projects, increasing energy efficiency and providing technical and financial support to ensure a fair and equitable economy. By focusing on these areas, we aim to improve access to energy, contribute to economic growth and promote environmental sustainability. In addition, we are working to provide access to LPG (for clean cooking) to 100 million people in Africa and India by 2030,’ he emphasised.
As in Africa, and Mozambique in particular, TotalEnergies understands the critical need for countries to make the transition from coal to cleaner energy sources in order to meet their climate goals.
‘Although coal has been a dominant energy source, its high carbon emissions pose significant environmental challenges. Natural gas offers a cleaner alternative and can serve as the main fuel in the transition process to renewable energy,’ he added.
The resumption of the project in the country is dependent on security conditions following the ‘force majeure’ clause that led to the temporary suspension of activities at the Afungi logistics base, in the Palma district, after a terrorist attack in March 2021.
Last year, the Mozambican government approved a strategy aimed at reducing the country’s dependence on fossil fuels, estimating that its implementation will cost 80 billion dollars by 2050.
The first steps in the Energy Transition Strategy, approved by the Council of Ministers on 21 November, according to a report published by the Bloomberg financial information agency, include adding 2,000 megawatts of hydroelectric capacity by 2030 and expanding the transmission network to allow for the addition of more renewable energy.
‘The country has great potential to be a global leader in climate-aligned development,’ reads the document, emphasising that ’the Energy Transition Strategy establishes a clear path for harnessing these assets in a way that allows for sustainable growth at the national level while supporting the reduction of emissions.’
Mozambique is the latest developing country to seek international funding to finance its energy transition programme. Senegal has become the second African country to secure a substantial climate finance package of 2.7 billion dollars to support and accelerate its just energy transition strategy.
