CAPE TOWN (Reuters) -Italian energy group Eni is expected to agree a final investment decision for Mozambique's second floating liquefied natural gas (LNG) platform at an event in the capital Maputo
Eni Set to Finalize Investment for Mozambique's Coral North LNG Project
Eni's Coral North LNG Project Overview
CAPE TOWN (Reuters) -Italian energy group Eni is expected to agree a final investment decision for Mozambique's second floating liquefied natural gas (LNG) platform at an event in the capital Maputo on Thursday, two sources familiar with the matter told Reuters.
Investment Decision and Ceremony
Mozambique's government in April approved the development plan for the Coral North floating platform, which will produce 3.5 million metric tons of LNG a year once operational.
Impact on Mozambique's Energy Production
Eni's Chief Executive Officer Claudio Descalzi is expected to attend Thursday's signing ceremony along with Mozambique President Daniel Chapo, the sources said.
Comparison with Coral South
Coral North will double existing LNG production from the southern African country's offshore Rovuma Basin.
Eni's first floating LNG platform, Coral South, started exports from Mozambique in 2022.
Eni's projects, far out into the ocean, have not been affected by the security delays that have blighted onshore LNG terminals being developed by other global energy companies TotalEnergies and Exxon Mobil .
(Reporting by Wendell Roelf;Writing by Sfundo Parakozov;Editing by Alexander Winning)
