Italian energy major Eni, alongside partners ExxonMobil, CNPC, GALP, KOGAS, and Mozambique’s state-owned ENH, is steering the Coral Norte floating LNG project in offshore Area 4 toward a Final Investment Decision. Building on the success of the 3.4 million-tonne-per-annum Coral Sul FLNG vessel currently operating in the Rovuma Basin, the planned Coral Norte vessel aims to double the consortium’s offshore production capacity.
The project involves deepwater subsea wells tied back to a second floating liquefaction facility, allowing the partners to monetise Mozambique’s vast gas reserves offshore, insulated from onshore security challenges in Cabo Delgado province.
Coral Norte’s development is seen as crucial for Mozambique’s fiscal stability and its long-term ambition to become one of the world’s premier LNG exporters. While onshore liquefaction projects operated by TotalEnergies and ExxonMobil have faced delays linked to regional security concerns, offshore FLNG technology provides a more reliable stream of export revenues and state royalties. Over the coming decades, the gas exports are expected to bolster Mozambique’s sovereign balance sheet, drive local ndustrialization through domestic gas allocations, and supply transition fuel to energy-deficient markets in Europe and Asia-Pacific.
Source: Africa Oil & Power