XRG, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), has completed the acquisition of a 10% interest in Mozambique’s Area 4 concession from Galp. This deal grants XRG access to a suite of LNG projects in the Rovuma Basin, one of the largest gas discoveries in recent history, with a combined production capacity exceeding 25 million tons per annum (mtpa).
The acquisition includes stakes in several major LNG initiatives: the operational Coral South Floating LNG (FLNG) project, the soon-to-be-developed Coral North FLNG, and the large-scale onshore Rovuma LNG development.
Khaled Salmeen, Chief Operating Officer of XRG, highlighted the importance of this strategic investment, stating, “We are proud and excited to contribute to the responsible development of Mozambique’s Rovuma Basin. Together with our partners and the Government of Mozambique, we aim to unlock the full potential of these LNG projects while supporting sustainable economic growth.”
The Coral South FLNG, operated by Eni, has a production capacity of 3.5 mtpa and employs advanced energy-efficient technology. The Coral North FLNG project, also managed by Eni, is nearing a final investment decision and is expected to add an additional 3.5 mtpa of LNG capacity.
Meanwhile, the onshore Rovuma LNG Phase 1 Project, operated by ExxonMobil, is expected to finalize its front-end engineering design (FEED) phase in 2025. The project aims to incorporate modular electric drive technology to minimize carbon emissions while achieving an anticipated production capacity of 18 mtpa.
Source: oedigital.com
