The Mozambique government and the Italian Hydrocarbons Eni giant will sign a financing agreement for a second liquefied natural gas production project on Thursday, the President of the House of Energy of Mozambique Florical Mucave announced on Tuesday.
This project, called Coral Norte, provides for the installation of a liquefied natural gas floating factory and represents, according to Mr. Mucave, an investment of some $ 8 billion (6.8 billion euros).
“This week ago, the Coral Norte project this week ago, of $ 8 billion. They will sign the final investment decision,” said Mucave.
Questioned by AFP, he said that the signature would take place “Thursday October 2” in Maputo.
The president of the energy Chamber was expressed during a round table dedicated to Mozambique on the occasion of the Africa Energy Week in CAP, an annual meeting of actors in the oil and gas sector on the continent.
Eni already operates an offshore floating LNG site in the same Rovuma basin, off the province of Cabo Delgado, in the north of the country. The first LNG cargo on the Coral Sul site went to export in November 2022.
The Mozambique also awaits the resumption of the “Mozambique LNG” project carried out in particular by total and stopped in the wake of a bloody jihadist attack in 2021.
“We hope and we are almost certain that by the end of this year, Total will raise force majeure and return to Mozambique with an investment of $ 20 billion,” said Mucave.
The latter was also confident in the signing by the end of 2026 of a final investment decision of $ 7 billion between the American Exxonmobil and the Mozambique for another gas project in the same region.
Totalnergies and exxonmobil projects include onshore liquefaction installations to transform gas into the liquid state and thus be able to transport it by sea.
These projects “could make Mozambique one of the world’s top ten producers (of gas, editor’s note), contributing to 20% of African production by 2040”, according to a report by the Deloitte audit firm of 2024.
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