Eni and Area 4 Partners Ship First Cargo From $8bn Coral South FLNG Project
11.15.2022 By Ella Keskin - NEWS

November 15, 2022 [NS Energy] – The Mozambican floating LNG project is expected to produce 450 billion cubic meters of natural gas from the Coral gas field in the Rovuma Basin and liquefy 3.4 million metric tons per annum of the gas for transport

 

Eni, ExxonMobil, and other Area 4 partners have achieved the milestone of shipping the first cargo of liquefied natural gas (LNG) from the $8bn Coral South floating LNG (FLNG) project located offshore Mozambique.

The milestone follows the production of the first LNG volumes by the Coral South project in early October 2022 after the on-schedule start-up of the FLNG vessel, which is also called Coral Sul.

The Coral South FLNG project is anticipated to produce 450 billion cubic meters of natural gas drawn from the Coral gas field in the Rovuma Basin. The facility will liquefy 3.4 million metric tons per annum of gas for transport.

The project is also the first development in the Rovuma Basin to be brought into production. Located at a water depth of nearly 2,000m, the FLNG vessel produces through six subsea wells.

ExxonMobil LNG business head Peter Clarke said: “The Coral South project will bring significant long-term economic value to the people of Mozambique.

“Today’s first-cargo milestone is a testament to the hard work, continued investment and successful execution of our integrated consortium team. Mozambique is joining the ranks of global LNG producers and contributing to global LNG supplies at a time when the world needs it most.”

Eni is the operator of the Coral South project. The Italian firm is also the upstream delegated operator of the Area 4 consortium, which also includes ExxonMobil, CNPC, Kogas, Galp, and Empresa Nacional de Hidrocarbonetos (ENH).

The FLNG project was sanctioned in 2017 and has been brought on stream within the initial budget and schedule in spite of the disturbances resulting from the Covid-19 pandemic.

Eni CEO Claudio Descalzi said: “The first shipment of LNG from Coral South project, and from Mozambique, is a new and significant step forward in Eni’s strategy to leverage gas as a source that can contribute in a significant way to Europe’s energy security, also through the increasing diversification of supplies, while also supporting a just and sustainable transition. We will continue to work with our partners to ensure timely valorisation of Mozambique’s vast gas resources.”

 

WTI Crude Oil Forecast: Continues to Threaten Support
12.01.2022 - NEWS
December 1, 2022 [DailyForex] – We are on the precipice of either forming a massive double ... Read More
Oil Updates — Crude Prices Up; Chevron Awaits Venezuelan Oil Cargoes
12.01.2022 - NEWS
December 1, 2022 [Arab News] – Oil rebounded on Tuesday after falling to more than 11-month... Read More
WTI, Brent Prices Slip
12.01.2022 - NEWS
December 1, 2022 [Financial Tribune] – Oil prices slid on Wednesday as Covid-19 cases in Ch... Read More
A Volatile Year for Oil Markets
12.01.2022 - NEWS
December 1, 2022 [TheStreet] – One month ago, with inventories of diesel fuel and gasoline ... Read More