“The plan marks the second phase of development for the Coral Norte field, FLNG, and involves a floating natural gas liquefaction infrastructure with the capacity of 3.55 million tons per year and six production wells, valued at approximately 7.2 billion US dollars [6.6 billion euros], with production slated to start in the second quarter of 2028,” announced Inocêncio Impissa, spokesperson for the Council of Ministers.
The official addressed journalists at the conclusion of the weekly meeting in Maputo, where the decree approving the “Coral Norte project development plan” was discussed and approved. This project aims to develop and produce 3.5 mtpa of LNG over 30 years in area 4, operated by the Italian oil company Eni, offshore in the Rovuma Basin.
Cláudio Descalzi, CEO of Eni, assured Mozambican President Daniel Chapo on January 16th of an expansion in the LNG project in the Rovuma Basin, “placing Mozambique on the global natural gas landscape.”
In a letter congratulating Daniel Chapo on his election as President of the Republic, inaugurated just days before, the leader of the Italian oil company expressed Eni’s “commitment to further enhance collaboration.”
“Placing Mozambique on the global LNG map and expanding our strategic partnership through the implementation of the Coral Norte FLNG project in the Rovuma Basin. Rest assured, our goal is to support the long-term development strategy of Mozambique through local content initiatives and accelerating the country’s energy transition with our vegetable oil initiative and forestry projects,” reads the letter obtained by Lusa.
A source from Eni, the concessionaire of Area 4 of Rovuma, stated in October 2023 to Lusa that they were discussing with the Government the development of a second floating platform, a duplicate of the first (Coral Sul) named Coral Norte, to increase gas extraction.
“Eni has finalized the Development Plan, currently under discussion with partners and the Government of Mozambique for final approval. Concurrently, Eni is advancing with procurement processes, environmental impact studies, etc., including drilling-related contracts,” said a formal source from the Italian oil company, queried by Lusa.
This plan involves acquiring a second FNLG floating platform for the Coral Norte area, identical to the one operating for gas extraction since mid-2022 in the Coral Sul area.
A study by consultancy firm Deloitte concluded in 2024 that Mozambique’s LNG reserves—currently featuring projects ongoing or under study by multinational oil companies such as TotalEnergies, ExxonMobil, and Eni—represent potential revenues of 100 billion dollars (96.2 billion euros), underscoring the country’s international importance in the energy transition.
“The country’s vast gas reserves could position Mozambique as one of the world’s top ten producers, accounting for 20% of Africa’s production by 2040,” the report noted.
