The Government has during the 11th session of the Council of Ministers approved the Development Plan for the Coral Norte FLNG Project. This is a crucial step towards the implementation of what will be the second offshore platform for the exploration of liquefied natural gas (LNG) in Area 4 of the Rovuma Basin.<\/p>\n\n\n\n
According to the spokesperson for the Council of Ministers, Inoc\u00eancio Impissa, the project consists of a floating natural gas liquefaction infrastructure with a capacity of 3.55 million tons per year (MTPA) and six production wells, valued at around 7.2 billion US dollars.<\/p>\n\n\n\n
The Coral Norte FLNG is a replica of the Coral Sul FLNG, which has been in production since November 2022 and reached a historic milestone a few days ago by completing the 100th LNG loading.<\/p>\n\n\n\n
The new platform will produce gas from the Coral Eoceno 441 deposit for 25 years, with production scheduled to begin in the second quarter of 2028.<\/p>\n\n\n\n
The approved development plan foresees that, over the years of operation, the Government will collect US$23 billion in revenues, taxes and other contributions. It also foresees the provision of natural gas to the domestic market and condensate produced for the development of industrialization projects in the country, to be monetized by the National Hydrocarbons Company (ENH), as well as the hiring of local workers and the implementation of a succession plan to increase the qualifications of the Mozambican workforce in the sector.<\/p>\n\n\n\n
This project is operated by Eni, on behalf of Rovuma Mozambique Venture (MRV), a consortium with a 70 percent stake and which also includes ExxonMobil and China National Petroleum Corporation (CNPC), while ENH, KOGAS and Abu Dhabi National Oil Company (ADNOC) each have 10 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"