The government of Mozambique has approved the development plan for the Coral Norte floating liquefied natural gas (FLNG) project, currently being developed by the Italian group Eni offshore northern Mozambique. The project will see the production of 3.55 Mt/year (5.2 bcm/year) of LNG over 30 years from Mozambique's Rovuma Basin. Production on the US$7.2bn project is expected to start in the second half of 2028.
Eni's first FLNG venture in the Rovuma Basin, the 3.4 Mt/year (5 bcm/year) Coral Sul project, started exporting gas in 2022. The concessionaires of Area 4 Offshore of the Rovuma Basin are Mozambique Rovuma Venture (MRV, a consortium that includes Eni, ExxonMobil and China National Petroleum Corporation (CNPC)) with 70%, ENH, Galp and KOGAS, each with a 10% stake.
As of end-2023, Mozambique’s gas reserves stood at 650 bcm. The country produced nearly 5 bcm of natural gas and exported about 4 bcm in 2023.
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