The government announced this Tuesday, April 8, the approval of an investment of 7.2 billion dollars (approximately 540 billion meticals) for the Coral Norte project, an ambitious Liquefied Natural Gas (LNG) plan that foresees the production of 3.5 million tonnes per year (tmpa), with production scheduled to begin in 2028, the Lusa news agency reported .
The project, which corresponds to the second phase of development of the Coral Norte field, will be carried out with a floating natural gas liquefaction (FLNG) infrastructure capable of producing 3.55 million tonnes per year. The installation will include six production wells, and operations are scheduled to begin in the second quarter of 2028.
The decision was announced by the spokesman for the Council of Ministers, Inocêncio Impissa, at a press conference after the weekly government meeting in Maputo. He explained that the decree approved aims to develop and produce LNG in Area 4, owned by Italian oil company Eni, located in the deep-water Rovuma basin. The project is expected to last 30 years.
Eni strengthens partnership and commitment to the country
In January, Eni’s CEO, Cláudio Descalzi, expressed the Italian oil company’s commitment to the country’s development, guaranteeing the extension of the operation of the Coral Norte project. In a letter sent to Mozambican President Daniel Chapo, Descalzi emphasised that the expansion of the project aims to position Mozambican on the global LNG scene, as well as strengthening collaboration with the government, focusing on local content initiatives and accelerating the country’s energy transition.
‘We are committed to supporting Mozambique’s long-term development strategy through local content initiatives and sustainable energy projects,’ said Descalzi, emphasising the importance of continued collaboration between Eni and the government.
Investments and increased production
The new floating platform, Coral Norte, will be a replica of the Coral Sul platform, which has already been operating since mid-2022 to extract gas in the Rovuma basin. Eni is currently discussing the final details of the project’s development with the government and moving ahead with the procurement processes and environmental impact studies, as well as contracts for drilling.
The investment aims to significantly increase Mozambique’s LNG production capacity, reinforcing the country’s position as one of the main exporters of natural gas on the African continent.
