Report: Eni to reach Coral FLNG FID this week

Report: Eni to reach Coral FLNG FID this week

Italian energy giant and LNG player Eni will reach the final investment decision on the development of the Coral gas discovery in the Rovuma Basin, offshore Mozambique. 

The company will reach the decision by the end of this week, Reuters reports, citing a company’s spokeswoman.

The project involves the construction of 6 subsea wells connected to a floating LNG production facility, with a liquefaction capacity of over 3.3 million tons of liquefied natural gas per year, equivalent to approximately 5 billion cubic meters.

In February last year, Mozambique government approved the development of the gas field discovered in 2012. Located within Area 4, the field contains about 450 billion cubic meters (16 TCF) of gas in place.

In October, Eni and its Area 4 partners signed an agreement with BP for the sale of the entire volumes of LNG produced by the FNLG Coral South, for a period of over twenty years.

Eni is 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.

The other concessionaires are Galp Energia, Kogas and Empresa Nacional de Hidrocarbonetos (ENH), each owning a 10 percent stake. CNPC owns a 20 percent indirect interest in Area 4 through Eni East Africa.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 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 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >