Eni has received approval from Mozambique’s government for the development of Coral Norte, the company’s second floating LNG platform in the gas-rich Rovuma Basin, paving the way for a final investment decision, Reuters reported on Wednesday.
The development plan outlines a production target of 3.55 million tonnes per year (tpy) of LNG over a 30-year period from offshore Area 4 in northern Mozambique.
“This is a significant milestone in Mozambique’s path to becoming a global LNG hub, reinforcing the country’s strategic role in supplying reliable energy to global markets,” Coral Norte project director Claudio Descalzi said.
Coral Norte will complement the Coral Sul FLNG platform, which began gas exports to Europe in 2022. Operated by Eni, Coral Sul is Mozambique’s first floating LNG facility and the second-largest of its kind globally, with a nameplate capacity of 3.5 million tonnes per year. It is also the first FLNG deployed in deep waters off Africa.
Eni, through Mozambique Rovuma Venture – a joint venture with ExxonMobil and China National Petroleum Corporation – holds a 70% stake in Area 4. The remaining 30% is shared equally by XRG (a subsidiary of ADNOC), KOGAS and Mozambique’s state oil company ENH.
“Demand for LNG is projected to continue growing in the coming years, and there is room in the market not only for Coral Sul and Coral Norte but for additional projects as well,” Marica Calabrese, general manager of Eni Rovuma Basin, told The Energy Year last year.
Read our latest interview with Marica Calabrese, general manager of Eni Rovuma Basin, here.
To date, Coral Sul has shipped 100 LNG cargoes and is expected to yield 450 bcm (15.9 tcf) of gas from the Coral reservoir, which forms part of the 2.4 tcm (85 tcf) of gas discovered by Eni in Area 4.
In Match, XRG, ADNOC’s USD 80-billion energy investment arm, completed the acquisition of Galp’s 10% stake in the Area 4 concession.
Source: theenergyyear.com