We will share obviously with our partners because it’s a Mozambique LNG decision to restart. It’s not a TotalEnergies decision. It’s — all the partners should be on board. And there is a third step, which I can use this question to deliver is that, of course, we have to reengage with the contractors. And one key condition to restart will be to maintain the costs that we had. If I see the costs going up and up, we’ll wait. We have waited. We can continue to wait. And the contractors will wait as well. So I’m not in a hurry in this condition to restart. Don’t — so there are conditions, I think, are okay. Human rights, I need the report. Costs, we will need another report from my teams. We will — probably, I will ask them to reengage, but smoothly.
No hurry. Again, I can wait on Mozambique LNG. If costs increase, we will wait, and we’ll take the time. So that’s where we are on these projects. So my message is positive, but it will take time. And it’s not in competition with the U.S. We are ready to finance both. We have the capacity to finance both within our $16 billion, $18 billion. These are 2 good projects. It did all that — by the way, on the U.S. projects, we could say the same. What I see when we discuss with some project developers is that costs are increasing also. So it’s good to rush for volumes. But if you destroy the value because costs are too high, we know what is the impact at the end, and we experience it. So that’s the same for me, debate. It’s more a question today on — we are very convinced by the U.S. and by the LNG market, but we need to have cost efficiency in the project.
Operator: The next question is from Lucas Herrmann of Exane.
Lucas Herrmann: Patrick, simple one for you. I think contracting LNG long term, not into portfolio, but out of portfolio, I mean you’ve waited sometime, I’d say, too, for the cycle to turn in terms of oil-linked contracts. Pricing has obviously improved quite significantly. Should we be expecting you to offload an increasing amount of your unhedged — or not unhedged is the wrong word, uncontracted volumes in to customers and give us a greater visibility and ways on duration and long-term people and oil linkage into the future with it?
Patrick Pouyanne: You’re right, Lucas. We can employ you if you want to manage my LNG business. It’s the right time to contract long term. Of course, the buyers, there is a little more willingness by the way of buyers because, suddenly, they see some value. Of course, when you contract long term, it’s linked to brand sometimes. So it’s an arbitration between and — I mean, gas spot index and Brent. Where it is one projects on which we want to balance the risk, it’s PNG, Papua LNG. We said — of course, my team today, we would like to keep a volume. So we’ll have right to keep a volume, but most of the volume will be contracted in the long term because it’s — again, it makes a little sense to contract when you have some 11% — or 10%, 11% Brent proposal from customers.
