- Eni is assessing a third FLNG development in Mozambique’s Rovuma Basin following the success of Coral South and progress on Coral North.
- Coral North, valued at US$7.2 billion, is scheduled to start production in 2028 and could make Mozambique Africa’s third largest LNG producer.
- Coral South contributed 70% of Mozambique’s GDP growth in 2024 and is expected to generate US$16 billion in tax revenues over its lifespan.
Italian energy major Eni is evaluating the development of a third Floating Liquefied Natural Gas platform in Mozambique’s Rovuma Basin, reinforcing the country’s position as a major emerging LNG producer in Africa.
The company confirmed that the offshore basin in northern Mozambique contains significant natural gas reserves capable of supporting both ongoing and future LNG developments. Eni already operates the Coral South FLNG platform and is advancing the Coral North project, which is expected to begin production in 2028.
According to the company, the proposed third project would also be based on FLNG technology, building on the operational success of Coral South.
Speaking in Maputo during the signing of the Final Investment Decision for Coral North in October, Eni Chief Executive Officer Claudio Descalzi said the project timeline is already underway.
“We have initiated the schedule for 2028. This means we started today with the FID and, within three years, we will begin production,” said Descalzi.
The Coral North development carries an estimated investment value of US$7.2 billion and was approved by partners in Area 4 of the Rovuma Basin, including Eni, CNPC, Kogas, XRG and Mozambique’s National Hydrocarbons Company.
Descalzi stated that the addition of Coral North would elevate Mozambique to the third largest LNG producer in Africa, behind Nigeria and Algeria, while doubling the country’s LNG production capacity to 7 mtpa.
He also highlighted the economic contribution of Coral South, which began production in 2022 and has already delivered more than 120 LNG cargoes. According to Eni, the project accounted for 50% of Mozambique’s GDP growth in 2023 and around 70% in 2024.
The Coral South platform is expected to generate US$16 billion in tax revenues over its operational life, while awarding more than US$800 million in contracts to local companies and supporting employment for over 1,400 Mozambicans.
Eni expects Coral North to further expand these economic benefits. The second FLNG project is forecast to generate US$23 billion in tax revenues over 30 years of operation and create double the number of jobs generated by Coral South.
Mozambique currently has three approved mega LNG projects targeting reserves in the Rovuma Basin, one of the world’s largest offshore gas discoveries. These include the 13 mtpa development led by TotalEnergies, which has resumed activities following security related disruptions in Cabo Delgado, and an 18 mtpa project led by ExxonMobil, which is awaiting a final investment decision.
Author: Bryan Groenendaal
