Italy’s energy giant Eni and its co-venturers have reached the final investment decision (FID) to develop a floating liquefied natural gas (FLNG) project in the north of Mozambique.
As disclosed by Eni, the FID for the Coral North FLNG project was signed in Maputo on October 2. The project aims to produce gas from the northern part of Area 4 Coral gas reservoir in the supergiant Rovuma basin through what Eni says will be a state-of-the-art floating LNG facility, joining the one already working at the area – Coral South .
Eni’s CEO Claudio Descalzi stated: “Coral North project leverages Eni’s unmatched exploration skills, our trademark fast-track and capital disciplined development capabilities, Mozambique’s vast gas resources and its strategic geographic position.
“With Coral North we will contribute to supply the worldwide growing demand for LNG, doubling both Mozambique’s contribution to global energy security, and the benefits for the country and its citizens in terms of economic and industrial growth.”
In addition to Eni (50%), other members of the joint venture developing the project are CNPC (20%), Kogas (10%), ENH (10%), and ADNOC’s subsidiary XRG (10%). The latter purchased a stake in the project from Portugal’s Galp in March.
Eni says Coral North will be the second large-scale FLNG delivered in ultra-deep waters worldwide, after Coral South. The Italian player expects the project to offer benefits relating to schedule, costs, performance optimization, as well as minimize risks. The anticipated start of production is 2028.
The newly built FLNG unit’s production liquefaction capacity of 3.6 million tonnes per annum (mtpa) will bring Mozambique’s overall LNG production to over 7 mtpa, which Eni claims will make the country the third-largest LNG producer in Africa.
Coral South FLNG has a gas liquefaction capacity of 3.4 mtpa, putting into production 450 billion cubic meters of gas from the giant Coral reservoir. Less than three years after sending off its first LNG shipment in November 2022, Coral South shipped its 100th cargo in April 2025.