30 September 2026 (Seoul) – According to information compiled by Justiça Ambiental! / Friends of the Earth Mozambique (JA!) and Solutions for Our Climate (SFOC), a growing number of nine financial institutions have confirmed they do not finance LNG carriers linked to the controversial Mozambique Project, narrowing the pool of potential backers for a proposed fleet of 17 vessels as Japanese shipowners approach a new Q3 order deadline. 

The nine financial institutions not financing LNG carriers linked to Mozambique LNG Project are: BNP Paribas, ING, EIFO, UKEF, Atradius, Eksfin, La Banque Postale, a major French commercial bank, and a French public development bank. 

Their positions vary, ranging from project-specific exclusions to broader restrictions on LNG carriers or fossil fuel transportation overall. 

The findings come as 26 civil society organizations issued a joint letter to Mitsui O.S.K. Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line), and Kawasaki Kisen Kaisha (K Line) to not finalize orders for 17 LNG carriers linked to Mozambique LNG while serious human rights, community, and commercial concerns remain unresolved. The companies have been asked to respond by October 6. 

The three Japanese shipping companies are widely reported to be approaching a Q3 deadline to make a decision on the vessels. Following the withdrawal of Greek shipowner Maran Gas Maritime, responsibility for deciding whether to proceed now sits with the three Japanese companies. 

The coalition of civil society organizations cite ongoing calls for an independent investigation into allegations of abuse by Mozambican security forces operating around the project's Afungi site in 2021, as well as long-running concerns regarding compensation, resettlement, and livelihoods for affected communities in Cabo Delgado province. The letter notes that investigations and legal processes relating to the allegations are still ongoing.  

While the confirmations from the nine institutions do not conclusively determine whether the vessels can be financed, they narrow the pool of potential financiers at a critical moment. JA! and SFOC contacted numerous additional banks and financial institutions regarding the vessels. Several declined to comment on specific transactions, while others did not respond at all. As financial institutions increasingly distance themselves from the project, questions remain over who, if anyone, is willing to provide backing for the fleet.  

TotalEnergies announced the resumption of full project activities of the Mozambique LNG project in January 2026 after force majeure was lifted in late 2025. Construction at the Afungi site was announced to be 45% complete during TotalEnergies' Investor Day on September 28, 2026. First LNG production is targeted for 2029.  

Juliette Knighton, Midstream Gas researcher, SFOC said, "Nine institutions have now publicly or privately confirmed that they are not financing these vessels. That naturally raises the question: who is? If support for Mozambique LNG remains commercially attractive, financiers should be willing to say so. Instead, we are seeing a growing number of institutions distance themselves from the project while others refuse to clarify their position." 

Anabela Lemos, Director of the Board of Directors of Justiça Ambiental said, "The resumption of the project has led to an increase in offshore activities, further aggravating the risks to the lives and safety of fishermen and island communities. At the same time, it has contributed to significant environmental impacts. […] The arrival of additional vessels could further worsen the already precarious living conditions of communities in Cabo Delgado, particularly those that depend directly on marine resources for their livelihoods. […] Most importantly, if the environmental and social impacts, as well as the risks to community safety, cannot be adequately prevented or minimized, the project should not proceed under the conditions currently envisaged.” 

Banks including Société Generale and UniCredit refused to comment on their involvement in financing Mozambique LNG carriers. Other institutions including Crédit Agricole and Export-Import Bank of Korea (KEXIM) did not reply at all. The full list of the institutions that refused to comment or did not reply can be found here [Banks full list]

A link to the joint letter can be found here [joint letter] 

ENDS.   

Solutions for Our Climate (SFOC) is an independent nonprofit organization that works to accelerate global greenhouse gas emissions reduction and energy transition. SFOC leverages research, litigation, community organizing, and strategic communications to deliver practical climate solutions and build movements for change. 

Justiça Ambiental! / Friends of the Earth Mozambique (JA!) is a private-law membership-based organization that promotes environmental citizenship and environmental justice in Mozambique. It works to protect the environment through research, investigation, and community awareness-raising. JA! provides strategic and technical consultancy, promoting access to information and building citizens’ capacity. The organization works to strengthen the active participation of communities in decision-making processes concerning development and the environment, both in Mozambique and globally.

For media inquiries, please reach out to:  

Cody Williams, International Communications Officer, SFOC (Japan)
 cody.williams@forourclimate.org  

For more information on Mozambique LNG, please reach out to: 

Kete Fumo, 
Human Rights & Extractive Industries Specialist, 
JA! kete.ja.mz@gmail.com