Italy’s energy giant Eni has tucked a new milestone under its belt in Mozambique with the achievement of the 100th cargo of liquefied natural gas (LNG) from its floating LNG (FLNG) project in the African country.
Eni, as the delegated operator of Area 4 , on behalf of its partners, recently disclosed the shipment of the 100th cargo of LNG produced from its Coral South FLNG in the ultra-deep waters of the Rovuma Basin . Since its first LNG shipment in November 2022, the unit is perceived to have opened the global LNG market doors for Mozambique, contributing to its economic and industrial development.
The Coral South project is said to mirror the firm’s commitment to local content and capacity-building through continuous training and workforce development programs. As a result, the Italian player claims that 200 Mozambican talents are actively contributing to the FLNG’s onboard operations as part of the company’s local workforce development initiatives.
This project is estimated to have generated approximately 1,400 direct and indirect jobs for Mozambican professionals, fostering economic growth and skills development, with around $33 million invested in training young graduates, while Mozambican small and medium enterprises (SMEs) have secured contracts worth approximately $800 million, strengthening local businesses.
This is the first project to monetize the 85 trillion cubic feet of gas Eni discovered in Area 4 of the Rovuma Basin, leveraging natural gas’s role as a bridging source in the energy transition scenario. With a commitment to local capacity building, economic growth, and energy security, the firm and its partners plan to continue to support Mozambique in harnessing its natural resources.
Coral South FLNG, described as the first floating LNG facility ever deployed in the deep waters of the African continent, has a gas liquefaction capacity of 3.4 million tons per year (mtpa), putting in production 450 billion cubic meters of gas from the giant Coral reservoir.
Area 4 is operated by Mozambique Rovuma Venture (MRV), an incorporated joint venture owned by Eni, ExxonMobil, and China National Petroleum Corporation (CNPC), which holds a 70% interest in the Area 4 exploration and production concession contract.
Other shareholders are ADNOC’s subsidiary XRG, KOGAS, and ENH, each with a 10% participation interest in Area 4. Recently, the Council of Ministers of Mozambique approved the development plan of Eni’s Coral Norte/North FLNG project.
This development will unlock the exploration of natural gas resources from the Coral Eocene 441 deposit in Area 4 concession, which consists of the Coral Sul/South FLNG facility, the newly approved second FLNG development, and the Rovuma LNG onshore facilities.
The Coral Norte FLNG project’s estimated investments amount to $7.2 billion, and the African country’s government is set to collect $23 billion in revenues, taxes, and other contributions over 25 years of operation.