Mozambique will officially launch the $7.2 billion Coral Norte natural gas project next month in the Rovuma Basin’s Area 4, President Daniel Chapo announced on Monday during the Global Energy Alliance meeting in New York.
Chapo told the meeting held on the sidelines of the 80th United Nations General Assembly that construction of the project would commence in October.
Led by Italian energy giant Eni, Coral Norte marks Mozambique’s second floating liquefied natural gas (FLNG) initiative and is expected to produce 3.55 million metric tonnes of LNG annually over the next 30 years.
The commencement of the project follows government approval of Eni’s development plan earlier this year and builds on the success of Coral Sul, the country’s first FLNG facility, which began exports in 2022.
Coral Norte will replicate the Coral Sul model, drawing gas from the same reservoir estimated to hold between 450 and 500 billion cubic metres.
The new FLNG unit will be fed by six subsea wells and is expected to begin production in the second quarter of 2028.
Mozambique’s offshore LNG ambitions have gained momentum despite setbacks to onshore projects.
TotalEnergies’ $20 billion Golfinho and Atum development in Area 1 remains suspended under force majeure due to militant activity on the Afungi Peninsula.
Source: Club Of Mozambique / APA News
