Galp gives green light for Coral FLNG investment plan

Galp gives green light for Coral FLNG investment plan
Illustration purposes only (Image courtesy of KBR)

Portugal’s Galp Energia is the latest in line to approve the investment plan for the Coral South FLNG project in Mozambique, following Eni and ENH. 

The company said in its statement on Monday its board of directors approved the investment related to the Coral South area, the first development related to the discoveries made in the Area 4 of Mozambique’s Rovuma basin.

The approval of the investment moves the project closer to its final investment decision.

The Coral South project involves the construction of an FLNG unit with a liquefaction capacity of over 3.3 mtpa of liquefied natural gas per year, which will be connected to six subsea wells.

The FLNG will be located in the southern part of the Coral discovery, which is exclusively located within Area 4 and contains around 16 Tcf of gas in place. The total gas discovered in Area 4 is estimated at 85 Tcf, including the large Mamba discovery.

Eni, the operator of Area 4 with a 50 percent indirect interest owned through Eni East Africa, which holds a 70 percent stake in Area 4, approved the Coral South investment plan mid-November and was later followed by Mozambique’s Empresa Nacional de Hidrocarbonetos (ENH).

In October, the consortium signed an agreement with BP for the entire offtake of LNG produced through the Coral South FLNG, for a period of 20 years.

Galp holds a 10 percent stake in Area 4, like Kogas and ENH while China National Petroleum Corporation (CNPC) has an indirect stake of 20 percent through Eni East Africa.

Share this article

Follow LNG World News

Events>

<< Apr 2017 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

CWC China LNG & Gas International Summit & Exhibition

Where the Chinese & International LNG & Gas Industry Meet

read more >

CIMPC 2017

The 2017 Chine International Marine Corrosion & Protection Technology and Innovation and Application Development Forum will be held in March in Shanghai, China.

The Forum will continue to maintain a high standard, specialization, and internationalization. In addition to focusing on marine areas, it will also extend to the corrosion and protection of land and air engineering.  By showing the outstanding results of China in the aspects of corrosion technology research and engineering applications, as well as by introducing the advanced anti-corrosion technology and products, it is aimed to promote the development of China’s corrosion & protection technology and engineering application.

More info

read more >

Flame 2017

Join 650+ gas producers and consumers, infrastructure providers, traders and regulators at Europe’s largest annual industry meeting, Flame 2017.

read more >

ConferenzaGNL 2017

ConferenzaGNL will take place together with ExpoGNL, a two-days exhibition of projects, land and maritime technologies, cryogenic components…

read more >