According to a statement by the National Petroleum Institute of Mozambique, the Council of Ministers of Mozambique approved the development plan for the Coral Norte FLNG project in a meeting on Tuesday.
This marks a “decisive” step towards the exploitation of the natural gas resources of the Coral deposit, located in Area 4 offshore of the Rovuma Basin, INR said.
Moreover, the project includes the production of 3.55 million metric tons per annum of LNG.
Budgeted at $7.2 billion, the Coral Norte project could begin production in the second quarter of 2028 and is expected to operate for 30 years, a separate government statement said.
INR noted that the Coral North FLNG will be a replica of the Coral South FLNG, which has proven to be effective for deepwater production and also has already exported 100 LNG shipments.
Eni discovered Coral back in May 2012, and it operates the Area 4 along its partners ExxonMobil, CNPC, Galp, Kogas, and ENH.
Adnoc’s investment unit XRG recently completed the purchase of Galp’s 10 percent interest in the Area 4 concession of the Rovuma basin.
In November 2022, the Coral Sul FLNG shipped its first cargo of LNG, adding Mozambique to the LNG producing countries.
The FLNG just shipped its 100th cargo of LNG.
The TJS consortium, consisting of Technip Energies, JGC, and Samsung Heavy, built the unit for Eni, the first floating LNG facility ever to be deployed in the deep waters of the African continent.
Last year, Arnaud Pieton, CEO of LNG engineering giant Technip Energies, said there is a “high possibility” that Eni would take FID on the second FLNG project in Mozambique in 2024, but it could also be in 2025.
