On the afternoon of Wednesday, June 11, President Daniel Chapo received the CEO of Italian multinational Eni, Claudio Descalzi, in his office. The meeting reaffirmed the strong partnership between the country and the energy company, focusing on the expansion of the Coral Norte project and the implementation of new initiatives in the agricultural sector, which holds significant job creation potential.
According to a press release from the Presidency, at the end of the meeting, Descalzi announced that Eni had received official government approval for the Development Plan of the Coral Norte FLNG (Floating Liquefied Natural Gas) project. This is a decisive step that will significantly increase the production of liquefied natural gas from Area 4 in the Rovuma Basin.
“Coral Norte is the future, and the President brought very interesting and important news, as we have obtained approval for the Development Plan, with all terms agreed. That means Coral Norte is now a reality,” said Eni’s CEO. The meeting also served to assess the outcomes of the Coral Sul project, the first to produce LNG in the Rovuma Basin. According to data from the International Monetary Fund (IMF), that project contributed to 50% of the country’s GDP growth in 2023. Projections indicate that by 2025, it could account for up to 70% of Mozambique’s economic growth.
Beyond the gas sector, the meeting also provided an opportunity to discuss Eni’s strategy to diversify its activities in the country, particularly in agriculture aimed at producing sustainable biofuels.
“We have another very important focus for the country, which is agriculture,” Descalzi emphasized. According to the executive, investing in agriculture not only supports the energy transition but also has a major impact on rural employment. “Agriculture is labor-intensive. With 150,000 hectares, for example, we produce about 130,000 tons per year, but that level of production can generate up to 120,000 jobs. That’s a huge number,” he explained.
Eni is already developing such agricultural projects in more than six African countries and plans to replicate the model in Mozambique, in close coordination with the local government. “If we work with 300,000 hectares, we can generate around 300,000 jobs. It’s a revolution. And the President is very focused on agriculture and job creation,” Descalzi stressed.
The CEO also noted that, although the gas sector is economically significant, it creates fewer jobs. “Clearly, gas development is important, but it’s a capital-intensive sector. You invest a lot, but then only a few jobs are created — specialized ones, maybe a thousand or two. In agriculture, we employ over 100,000 people,” he said.
Eni’s contribution to Mozambique’s energy transition was also discussed, including carbon offset projects such as the “Clean Cooking” program, which promotes more energy-efficient solutions, along with other actions under the REDD+ program. For Descalzi, the meeting with the head of state was highly productive: “These two pillars are essential for the country not just to move, but to move fast, because we have a very young population. It was a very happy, constructive, and above all, very positive meeting.”
Source: Diário Económico
