Eni has disclosed that a significant interest has been demonstrated to fund its floating liquefied natural gas (LNG) project in Mozambique. The operator expects the facility to require a total investment of US$7bn.
Development of the plant should be similar to Eni's Coral South project, launched in 2022. Also according to the developer, investment decision on the LNG project could be taken this quarter still.
Coral North, as the project has been named, will be able to produce 5% more than its sibling Coral South, reaching a production capacity of 3.6 million tonnes of LNG per annum (mtpa).
The LNG vessel will be located in Mozambique's Area 4 concession. Partners in the initiative include ExxonMobil, China National Petroleum Corporation, ADNOC, Korea Gas Corporation and Empresa Nacional de Hidrocarbonetos.
For more information on projects in Mozambique, please visit EICDataStream.