Italian multinational Eni is awaiting approval from the Mozambican government to proceed with the final investment decision for the Coral Norte FLNG floating natural gas liquefaction terminal. With an estimated capacity of 3.4 million tons of LNG per year, the project will be installed in the Rovuma basin, in the north of the country, according to the argusmedia portal.
Eni expects authorization from the Mozambican authorities to be granted soon, allowing the project to move into the execution phase. Although it has not yet revealed a detailed timetable, the oil company has reaffirmed its plan to start operations at Coral Norte in the second half of 2027.
The new floating terminal will be located approximately 20 kilometers north of Coral Sul FLNG, Mozambique’s first LNG export venture, also operated by Eni, which began operations at the end of 2022. With a similar capacity to Coral South, Coral North represents a strategic step in the expansion of natural gas production in the country, at a time when the global outlook for the sector continues to evolve.
The completion of the project comes amid uncertainty about the progress of other megaprojects linked to natural gas exploration in the Rovuma basin. Mozambique LNG, led by TotalEnergies, and Rovuma LNG, under the responsibility of ExxonMobil, remain suspended due to security issues in Cabo Delgado province.
The TotalEnergies project, which foresees a liquefaction capacity of 13.1 million tons per year, reached financial close in 2019, but was halted in 2021 when the company declared force majeure due to the insurgency in the region. However, the Indian oil company Bharat Petroleum, one of the consortium’s partners, indicated in October 2024 that force majeure could be suspended between January and February this year, signaling a possible resumption of operations.
For its part, ExxonMobil announced in November last year that it would make a final decision on its investment in the Rovuma LNG project, with a capacity of 18 million tons per year, at the beginning of 2026. The company has been monitoring developments in Cabo Delgado and assessing safety conditions before going ahead with the investment.
Unlike the onshore projects, Coral Norte FLNG will be an offshore platform, which significantly reduces the risks associated with safety in the region. The success of the Coral South FLNG, which has operated without interruption since its inception, reinforces Eni’s confidence in the development of yet another floating liquefaction unit in the Rovuma basin.
Eni maintains its commitment to expanding LNG operations in Mozambique, consolidating its position as one of the main players in natural gas exploration in the country. If government approval is granted in the coming months, Coral Norte could become a new milestone in Mozambique’s trajectory as a strategic supplier of natural gas to the global market.
