The Coral South Field, located in Area 4 of the Rovuma Basin offshore Mozambique, has delivered its first gas to the Coral-Sul Floating Liquefied Natural Gas (FLNG) facility.
The development ushers in a new era of hydrocarbon development in Mozambique, with the country on track to produce its first liquefied natural gas (LNG) by the end of this year.
Eni, together with its partners ExxonMobil, China National Petroleum Corporation, GALP, KOGAS, and Empresa Nacional de Hidrocarbonetos, plans to produce LNG for export to Europe and Asia.
The move will trigger a wave of gas monetization in the hydrocarbon-rich country, with gas driving socioeconomic development both locally and across the region, as well as meeting global LNG demand in the aftermath of the Russia-Ukraine conflict.
The Coral South Field development marks a new chapter in the exploitation of Mozambique’s 100 trillion cubic feet (tcf) of gas reserves to address continental and global energy needs.
With over 600 million people living in energy poverty across the African continent and 900 million people without access to clean cooking solutions, the Coral South Field development marks a new chapter in the exploitation of Mozambique’s 100 trillion cubic feet (tcf) of gas reserves to address continental and global energy needs.
As the voice of the African energy sector, the African Energy Chamber (AEC) applauds Eni and its partners for successfully bringing the country’s LNG market to life.
The Chamber believes that the Coral-Sul FLNG’s annual gas output of 3.4 million tons will be a game changer in improving energy security in Africa and around the world.
With Africa seeking to diversify its energy mix, exploitation of the continent’s 620 tcf of gas reserves, such as Coral-Sul FLNG, provides an opportunity to not only expand power generation but also to mitigate climate change.
The Coral-Sul FLNG project provides a blueprint for Mozambique and other African countries looking to adopt global sustainable gas production specifications, attract funding, and accelerate project deployment, with Eni and partners leveraging zero flaring and dry low nitrogen oxide technology to reduce greenhouse gas emissions.
In this regard, the Coral-Sul FLNG milestone will help accelerate the development of planned projects such as TotalEnergies’ Mozambique LNG and Eni and ExxonMobil’s Rovuma LNG developments, as well as unlock investments for Mozambique’s LNG gas boom.
“Through the exploitation of domestic gas resources, the development of FLNG platforms is critical to unlocking Africa’s full energy potential and making energy poverty history across the continent.”
The Chamber congratulates Mozambique and Eni on reaching the Coral-Sul FLNG milestone.
“The Chamber is committed to working with H.E. Carlos Zacarias, Mozambique’s Minister of Mineral Resources and Energy, and industry stakeholders to attract investments and put in place business models and fiscal terms that are required to bring other planned LNG projects online,” says NJ Ayuk, the AEC’s Executive Chairman.
African Energy Week (AEW), the AEC’s annual conference, exhibition, and networking event, will take place in Cape Town from October 18 to 21, 2022, and will feature high-level discussions on Mozambique’s and other gas-rich African countries’ gas miracles.
A delegation from Mozambique, led by the Ministry of Mineral Resources and Energy, will give an update on the country’s gas market and present investment opportunities across the country’s LNG market during AEW 2022. Panel discussions, investor summits, and exclusive networking forums will be held at AEW 2022 to discuss the future of Mozambique’s gas industry.