Maputo, July 7, 2025 (Lusa) - South Korean shipbuilder Samsung Heavy Industries announced on Monday that it would build Eni’s second liquefied natural gas (LNG) production platform for Mozambique for 869.4 billion won (€542 million).
In a statement, the company said that this was an “initial” contract and that the company and Eni, the concessionaire for Area 4 of the Rovuma basin in northern Mozambique, would sign the final agreement at a later date. The platform will be located in the Coral Norte offshore area and will be the second of its kind in that area.
Eni’s executive director said on 11 June in Maputo that the second floating liquefied natural gas production platform, Coral Norte, in the Rovuma basin, Mozambique, is now a reality following government approval of the project.
"Coral Norte is the future, and the president (...) brought very interesting and important news because we obtained authorisation for the development plan, with all the terms agreed. This means that Coral Norte is now a reality," said the chief executive of oil company Eni, Claudio Descalzi, after a meeting with Mozambican Head of State Daniel Chapo in Maputo.
Mozambique has approved three mega-development projects to explore LNG reserves in the Rovuma basin, which rank among the largest in the world, off the coast of Cabo Delgado, including one by TotalEnergies, which is still suspended due to security issues, and another by ExxonMobil, awaiting a final investment decision, both on the Afungi peninsula.
The only one in production since mid-2022 is the one operated by Eni, which has since transitioned to a second floating platform, a duplicate of the first (Coral Sul), named Coral Norte, to increase gas extraction.
On 8 April, Mozambique’s government approved a €6.6 billion investment for the Coral Norte LNG project, with an estimated production of 3.5 million tonnes per annum (mtpa) and start-up in 2028.
“The plan is the second phase of development of the Coral Norte FLNG field and consists of a floating natural gas liquefaction infrastructure with a capacity of 3.55 million tonnes per year and six production wells, valued at around $7.2 billion, with production scheduled to start in the second quarter of 2028,” announced The project “also provides for the supply of natural gas to the domestic market in the proportion of 25% of the total gas to be produced, under national legislation, and 100% of the condensate for power generation,” allowing for the “development of industrialisation projects in Mozambique,” said government spokesman Inocêncio Impissa in early April.
"The project will also generate 1,400 jobs for Mozambicans, with plans to implement a succession plan to increase the skills and availability of Mozambican labour in the oil and gas sector," he added.
The country also expects to raise $23 billion (€20.1 billion) over 30 years from the Coral Norte project, Eni’s second LNG production platform in the Rovuma basin, according to the government.
PVJ/ADB // ADB.
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