Eni is evaluating plans to develop a third Floating Liquefied Natural Gas (FLNG) platform in Mozambique’s Rovuma Basin in the northern part of the country.
The company said the Rovuma Basin holds significant natural gas reserves that can support both existing projects and future developments. Eni already operates the Coral South FLNG platform and plans to launch Coral North in 2028.
Eni added that it is currently studying the possibility of advancing a third FLNG project, building on the operational success of Coral South.
Speaking in Maputo on 2 October, Eni CEO Claudio Descalzi said Coral North LNG production is expected to begin within three years, positioning Mozambique as Africa’s third-largest LNG producer.
Descalzi said the company has already started the development schedule following the final investment decision (FID), with production targeted for 2028. The Coral North project carries an estimated investment value of $7.2 billion.
Partners in Area 4 of the Rovuma Basin, including Eni, ENH, CNPC, Kogas and XRG, signed the FID agreement for Coral North in the presence of Mozambican President Daniel Chapo.
Eni, which operates both Coral South and Coral North, said the new platform will help Mozambique become Africa’s third-largest LNG producer after Nigeria and Algeria. The project is also expected to double the country’s LNG production capacity to seven million tonnes per year.
Descalzi said Mozambique is strengthening its role in the global energy transition while deepening partnerships that support the country’s economic growth.
He described Coral North as an upgraded version of Coral South and said the project further demonstrates that floating LNG technology offers a fast, competitive and reliable development solution.
Descalzi noted that Coral South has delivered more than 120 LNG cargoes since production started in 2022.
He added that Coral South contributed about 50% of Mozambique’s GDP growth in 2023 and roughly 70% in 2024. The project is also expected to generate $16 billion in tax revenues over its lifespan while supporting local businesses and employment.
According to Descalzi, Coral South has awarded more than $800 million in contracts to local companies and created jobs for over 1,400 Mozambicans.
He said Coral North will build on that foundation by expanding economic benefits and increasing employment opportunities in the country.
Descalzi also reflected on the early scepticism surrounding FLNG developments, noting that projects once considered technically impossible are now moving into their second phase of development in Mozambique.
The Coral North project is expected to generate around $23 billion in tax revenues for Mozambique over 30 years of operation while doubling the number of jobs created by Coral South.
Mozambique currently has three approved mega LNG projects linked to the Rovuma Basin reserves, which rank among the largest globally. These include the 13 mtpa project led by TotalEnergies, which resumed after being suspended due to terrorist attacks in the region, and the 18 mtpa project led by ExxonMobil, which is still awaiting a final investment decision on the Afungi peninsula.
source: clubofmozambique.co
African Energy Council