US EditionEni Agrees to Build $7.2 Billion LNG Export Plant in Mozambique
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Eni Agrees to Build $7.2 Billion LNG Export Plant in Mozambique
Eni SpA gave financial approval to build a $7.2 billion floating liquefied natural gas project in Mozambique that will double the nation’s production of the fuel, adding to global supply just as a wave of new production hits later this decade.
The Italian oil company Eni and its partners signed in Maputo, capital of Mozambique, the Final Investment Decision for some $7.2 billion for the second floating processing plant and liquefied natural gas (LNG), which will position the country as the fourth largest exporter of this resource in Africa. The so-called North Coral Project, whose commercial production is planned for 2028, also includes South Korean Kogas, Chinese CNPC, Abu Dhabi XRG …
Italy’s Eni Approves $7.2B LNG Project In Mozambique
Eni (BIT: ENI), an Italian oil and gas giant, has signed off on a deal to build a $7.2bn floating liquefied natural gas (FLNG) project in Mozambique, a southern African nation with abundant gas reserves. If accomplished, the FLNG facility would more than double Mozambique’s natural gas production. The Coral North project, as it’s named, aims to build a massive floating facility for drilling, processing, and exporting natural gas from Mozambique’…
The Italian Eni and the other companies of the Coral North Cos signed this Friday in Maputo, the final investment for the Coral North project in Cabo Delgado, which represents an investment of about six billion euros.
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