Uk and dutch agencies make unprecedented withdrawal of $2.2 billion from totalenergies’ controversial mozambique gas project

In an unprecedented move that environmental advocates are calling historic, UK Export Finance (UKEF) and Netherlands-based Atradius have withdrawn their combined $2.2 billion financial commitment from French energy giant TotalEnergies’ liquefied natural gas project in northern Mozambique. This marks the first time export credit agencies have pulled funding from a project they had previously agreed to support.

The controversial LNG project has faced mounting criticism over environmental destruction and serious human rights violations. Most recently, TotalEnergies was sued in France over alleged connections to a massacre that occurred near the project site. These issues, combined with climate concerns surrounding the massive fossil fuel development, have made the project increasingly toxic for international financiers.

“The project is riddled with problems related to climate change, of course, as well as extremely grave allegations of human rights violations,” said Antoine Bouhey of Reclaim Finance, a French organization advocating for climate-aligned financing. Environmental groups hope this withdrawal will create a domino effect, encouraging the 29 remaining financial backers to reconsider their involvement.

The decision represents a significant blow to TotalEnergies’ ambitious Mozambique venture and signals a potential shift in how export credit agencies evaluate projects with environmental and human rights red flags. Campaign coordinators are now pressuring other financiers to follow suit, arguing that the UK and Dutch withdrawal proves it’s possible to exit controversial projects even after making initial commitments.