Eni Set to Sign FID for Coral North FLNG in Mozambique

Coral Sul FLNG (Credit: Technip Energies)

Italian energy group Eni is expected to agree a final investment decision for Mozambique's second floating liquefied natural gas (LNG) platform at an event in the capital Maputo on Thursday, two sources familiar with the matter told Reuters.

Mozambique's government in April approved the development plan for the Coral North floating platform, which will produce 3.5 million metric tons of LNG a year once operational.

Eni's Chief Executive Officer Claudio Descalzi is expected to attend Thursday's signing ceremony along with Mozambique President Daniel Chapo, the sources said.

Coral North will double existing LNG production from the southern African country's offshore Rovuma Basin.

Eni's first floating LNG platform, Coral South, started exports from Mozambique in 2022.

Eni's projects, far out into the ocean, have not been affected by the security delays that have blighted onshore LNG terminals being developed by other global energy companies TotalEnergies and Exxon Mobil.

(Reuters - Reporting by Wendell Roelf;Writing by Sfundo Parakozov;Editing by Alexander Winning)