• Eni-led consortium launches construction after $7.2 billion investment decision

• Floating LNG unit hull floated in South Korea, marking start of full build-out

• Project will lift Coral field LNG capacity to about 7 million tons a year

Italy’s Eni and its partners have entered a new phase in the development of Mozambique’s gas resources with the launch of construction work on the Coral Norte floating liquefied natural gas project.

Following a final investment decision approved on October 2, 2025, for a $7.2 billion project, the consortium has started building the Coral Norte floating production unit in the Rovuma Basin, offshore Cabo Delgado.

On January 16, the hull of the facility was floated at Samsung Heavy Industries’ shipyard in Geoje, South Korea. The operation marked the first flotation of the main structure, a key step before the installation of gas production and liquefaction equipment. Coral Norte is designed as a floating unit dedicated to natural gas production and liquefaction.

The project represents the second phase of development of the Coral gas field, following the start-up of Coral South in 2022. The field is estimated to hold more than 500 billion cubic meters of gas in place. With a liquefaction capacity of 3.55 million tons per year, Coral Norte will add to the 3.4 million tons per year capacity of Coral South, bringing total output from the field to about 7 million tons per year. Start-up is scheduled for 2028.

Coral Norte is being developed by a consortium led by Eni, which holds a 50% stake and acts as operator. China’s CNPC owns 20%, South Korea’s KOGAS 10%, Mozambique’s state energy company ENH 10%, and XRG, a subsidiary of ADNOC, the remaining 10%.

Abdel-Latif Boureima