The Italian energy company Eni S. P. A., together with its partners, has made the final investment decision for the development of the Coral North FLNG project on the Cabo Delgado shelf north of Mozambique. This is reported in a press release from Eni.
The project is being implemented as part of a joint venture formed by Eni (50%), CNPC (20%), Kogas (10%), ENH (10%) and subsidiary ADNOC XRG (10%) and provides for the supply of gas from the Area 4 Coral North gas storage facility in the Rovuma Basin region through the operation of the Coral floating platform. North FLNG.
The Coral North project is Eni's second field development in Mozambique using the FLNG facility. Based on the experience of the Coral South project, which has been under development since 2022, Coral North will have a competitive advantage in terms of costs, performance optimization and risk minimization to complete the project on schedule in 2028.
With a liquefied natural gas production capacity of 3.6 million tons per year, the new Coral North FLNG platform, combined with Coral South, will increase Mozambique's total LNG production to 7 million tons per year. As a result Mozambique will become the third largest LNG producer in Africa, strengthening the competitiveness of the local industry and opening up more opportunities for national enterprises and investments in local development projects.
Eni has been operating in Mozambique since 2006. In the period from 2011 to 2014, the company discovered huge reserves of natural gas in the Rovuma Basin, Coral, Mamba Complex and Agulha, which amount to about 2,400 billion cubic meters of gas. Eni is contributing to the diversification of the country's economy, expanding access to education, healthcare and water through the implementation of a comprehensive sustainable development plan, including the Coral South and Coral North projects in the Rovuma Basin.
Eni S. p. A. is a multinational energy company and the largest oil and gas company in Italy. The main production regions are Africa and Kazakhstan, and the main sales market is Italy and other European countries. The headquarters is located in San Donato Milanese (Italy).
