Despite the state’s proactive discourse in favor of energy transition, SFIL, a subsidiary of Caisse des Dépôts, is helping to finance the controversial “Coral South” gas project off the coast of Mozambique. Bpifrance is also involved. Without public support, this type of project would hardly see the light of day.
Mozambique’s offshore gas is making the French state salivate. According to our information, the controversial project called “Coral South”, of which the Franco-American oil services group TechnipFM is the supplier, is not only the subject of an export guarantee from Bpifrance, but also of the support of the Company. de financement local (SFIL), another public bank.
According to several documents that “Les Echos” have obtained, SFIL’s support for this gas project, which takes the form of refinancing a bank loan (issued by Natixis), amounts to 148 million euros. Including the 450 million euros put on the table by Bpifrance, the State’s participation is close to 600 million euros, or nearly a tenth of the total cost of financing Coral South (7.4 billion).