China’s CNPC and its partners in Coral Sul liquefied natural gas (LNG) project in Mozambique, plan to make a final investment decision (FID) on a second LNG platform by the end of June 2024.
According to Reuters, the upcoming project is set to enhance Mozambique’s LNG production that currently boasts an annual capacity of 3.5 million metric tons.
Eni’s first LNG project, Coral Sul (pictured above), transformed the economically challenged African nation into a worldwide LNG producer and exporter in November 2022.
Eni serves as the operator of Coral Sul, with more than two-thirds of the venture being collectively owned by Eni, Exxon Mobil Corporation XOM and China’s CNPC.
The remaining 30% is shared among Portuguese energy company Galp, Korean Gas Corp. and Mozambique’s state oil entity ENH, each holding a 10% stake.
The Coral field, situated in Mozambique’s offshore Rovuma basin, is believed to contain approximately 500 billion cubic meters of natural gas.
According to the source, Coral Sul is presently yielding 3.5 million tons of LNG, and the introduction of the new LNG vessel could potentially double this output.