FLNG: Eni’s Coral Norte project could have final investment decision in 2024

Eni’s second floating LNG (Liquefied Natural Gas) production project in Mozambique, Coral North, has “potential” for a final investment decision in 2024, according to the head of Technip Energies, Arnaud Pieton.

In November 2022, the 3.4 mtpa Coral South FLNG unit in Mozambique shipped its first cargo of LNG, placing the country among the top LNG producers.

The TJS consortium, made up of Technip Energies, JGC and Samsung Heavy, built the unit for Eni, making it the first floating LNG facility to be deployed in the deep waters of the African continent.

Italy’s Eni discovered the Coral field in May 2012 and operates Area 4 together with its partners ExxonMobil, CNPC, GALP, Kogas and ENH.

The partners are now working on the second FLNG project off Mozambique, Coral North.

Pieton told analysts during the Technip Energies 2023 results conference call that Coral Norte would be a replica of Coral Sul, which has been a “great success for us and Eni. We follow it closely and are in close contact with Eni”.

Pieton also said that if Eni decides to accept the IDF in 2024, it will probably be at the end of the year. “Work for us is progressing towards initial engineering work and preparing the groundwork so that we can start work at the time of the IDF,” he said.

In 2023, Technip Energies secured 10.8 billion dollars (689.2 billion meticais) in orders. In May last year, Technip Energies and Consolidated Contractors Company won QatarEnergy’s NFS LNG contract worth around ten billion dollars to build two “mega” LNG trains with a capacity of 8 mtpa each.

Technip and Chiyoda previously won the EPC contract for QatarEnergy’s North Field East project, which includes the construction of four trains with a capacity of 8 mtpa at the Ras Laffan complex.