An export powerhouse such as Japan has a phalanx of government-backed entities to support its own country’s trade and economy. So, why shouldn’t the United States do likewise?

On March 13, 2025, the U.S. Export-Import Bank (EXIM) finally approved a $5 billion loan for the $22.5 billion Mozambique LNG (MZ LNG) project. First identified over a decade ago, MZ LNG is a 40 million tons per annum (MTPA) (5.3 billion cubic feet per day — BCF/d) large LNG project sourcing natural gas from Mozambique’s territorial waters in the Indian Ocean.

As the anchor financier, the EXIM Bank’s action has been followed by other commitments, notably a combined $5.0 billion from Japan’s JBIC and NEXI, $5.3 billion from commercial banks, and the balance from other external credit and development authorities. However, corporate, governmental, and geopolitical setbacks have kept MZ LNG from achieving this critical goal.

In addition, there has been considerable criticism of EXIM’s role. notably in not serving US interests and only benefiting France’s TotalEnergies (Total), which holds a 26.5% interest in the project — the largest member of the consortium........

© The National Interest