Mozambique 'offers $2.25bn funding guarantee to LNG project'; Trade finance start-up We.trade 'cuts 50% of its staff'; Ring Energy borrowing base reduced to $375m

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• We.trade, the blockchain-based trade finance start-up jointly owned by 12 European banks, has reportedly laid off around 50% of its staff, representing more than 12 employees.

• Partners in Mozambique LNG, the $20 billion gas project led by Total, have reportedly received a $2.25 billion guarantee from the government that it will pay the state oil company’s equity share if required

• Texas-headquartered oil and gas group Ring Energy has entered into a new amendment to its $1 billion senior credit facility which reduces the immediate borrowing base from $425 million to $375 million

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