The announcement marks a significant step in consolidating Mozambique as a major player in the global liquefied natural gas (LNG) sector, reinforcing the government’s commitment to promoting strategic investments that contribute to sustainable economic growth and create job opportunities for Mozambicans, as stated by the Presidency. President Daniel Chapo is confirmed to attend the event this afternoon in Maputo.
Under the supervision of the Ministry of Mineral Resources and Energy, the project, operated by Eni, will be developed by Area 4 partners in the Rovuma Basin, near Cabo Delgado. It involves the construction of a floating platform for natural gas extraction and liquefaction (FLNG), similar to the one the Italian oil company has been operating in Coral Sul since 2022.
The final investment decision (FID) represents the last crucial step in the development of major energy projects. This project, also operated by Eni, in partnership with Rovuma Mozambique Venture (MRV), a consortium with a 70% participating interest that includes ExxonMobil and the China National Petroleum Corporation (CNPC), mirrors the operations at Coral Sul.
The Mozambican government approved on April 8 the Eni-led investment in the Coral Norte LNG project, which expects to produce 3.5 million tons annually (mtpa) starting in the second quarter of 2028, with a total investment of 7.2 billion dollars (6.2 billion euros).
“The project will also generate 1,400 jobs for Mozambicans, with plans to implement a succession plan to increase qualification and availability of Mozambican labor in the oil and gas sector,” stated Inocência Impissa, spokesperson for the Council of Ministers, at the time.
Over the next 30 years, Mozambique expects to earn 23 billion dollars (20.1 billion euros) from the Coral Norte project. The government plans for 25% of the total produced gas to be available to the domestic market and 100% of the condensate for energy generation, facilitating the country’s industrialization projects.
“The plan constitutes the second phase of the Coral Norte field development, FLNG, and consists of a floating infrastructure with a capacity of 3.55 million tons per year and six production wells,” it was further stated.
Eni’s CEO, Cláudio Descalzi, assured Mozambican President Daniel Chapo on January 16 that the company plans to expand operations in the Rovuma Basin LNG project, positioning Mozambique on the global natural gas scene.
A 2024 study by Deloitte concluded that Mozambique’s LNG reserves represent potential revenues of 100 billion dollars (85.1 billion euros).
Mozambique has three approved mega-development projects for the exploration of LNG reserves in the Rovuma Basin, ranked among the largest in the world, off the coast of Cabo Delgado. These include a TotalEnergies project (13 mtpa), set to resume after being suspended due to terrorist attacks in the region, and an ExxonMobil project (18 mtpa), pending a final investment decision, both located on the Afungi Peninsula.
Since 2022, Mozambique has earned 235 million dollars (200 million euros) in revenues from 137 shipments of LNG and gas condensate abroad from the Coral Sul platform, the government announced in September.
