By Al Jazeera Tv

Copyright trend

BAKU, Azerbaijan, October 2. Eni and its
partners CNPC, ENH, Kogas, and XRG have reached the Final
Investment Decision (FID) to develop the Coral North floating
liquefied natural gas (FLNG) project in the Rovuma Basin offshore
northern Mozambique, Trend reports.

The agreement was signed in Maputo in the presence of Mozambican
President Daniel Francisco Chapo and Eni CEO Claudio Descalzi.

The Coral North project will tap gas reserves in the northern
section of Area 4’s Coral field through a new FLNG facility. The
development is led by a joint venture comprising Eni (50%), CNPC
(20%), Kogas (10%), ENH (10%), and ADNOC’s subsidiary XRG

With a planned liquefaction capacity of 3.6 million tons per
year, Coral North will double Mozambique’s LNG output to more than
7 million tons annually once operational, strengthening the
country’s position as Africa’s third-largest LNG producer. The
project is scheduled for completion in 2028.

“This project leverages Eni’s exploration expertise and
Mozambique’s strategic resources to meet rising global LNG demand,”
Descalzi said. “It will enhance global energy security while
delivering significant benefits for Mozambique’s economy and

Coral North will be the second FLNG development in Mozambique
after Coral South, which began production in 2022. Eni said the new
project will draw on experience gained from Coral South to optimize
costs, execution, and performance.

Beyond boosting exports, Coral North is expected to create new
jobs, expand opportunities for local businesses, and support social
development programs. Since its entry into Mozambique in 2006, Eni
has discovered major gas resources in the Rovuma Basin and invested
in initiatives to promote education, healthcare, water access, and
economic diversification.