Eni CEO Claudio Descalzi has assured Mozambican President Daniel Chapo of plans to expand the Liquefied Natural Gas (LNG) project in the Rovuma Basin, elevating Mozambique’s presence on the global LNG stage.
In a congratulatory letter following Chapo’s inauguration, Descalzi reaffirmed Eni’s commitment to strengthening its strategic partnership with Mozambique.
He emphasized the company’s dedication to supporting Mozambique’s long-term development through local content initiatives, energy transition efforts, and the implementation of the Coral Norte FLNG project.
The letter stated:
“Projecting Mozambique onto the global LNG scene and extending our strategic partnership through the Coral Norte FLNG project in the Rovuma Basin.
Be assured that our goal is to support Mozambique’s long-term development strategy through local content initiatives and accelerating the country’s energy transition with our vegetable oil initiative and forestry projects.”
Eni, the concessionaire for Rovuma Area 4, is in discussions with the Mozambican government regarding the development of a second floating LNG platform, Coral Norte, a replica of Coral Sul, which has been operational since mid-2022.
An Eni spokesperson confirmed:
“The development plan has been finalized and is under discussion with the partners and the Government of Mozambique for approval.
Simultaneously, Eni is advancing acquisition processes, environmental impact assessments, and contracts related to drilling.”
The Coral Norte project aims to further enhance Mozambique’s gas extraction capabilities and strengthen its position as a global energy player.
During his inauguration, President Chapo announced plans to establish the Mozambique Development Bank, leveraging natural gas revenues to finance strategic infrastructure projects and improve the lives of Mozambicans.
“We are creating the Mozambique Development Bank to develop infrastructure, finance, and drive strategic projects for our country’s progress.
Gas revenues will capitalize this bank, enabling immediate investment in transformative projects,” Chapo stated.
A 2024 Deloitte study highlighted Mozambique’s LNG reserves as a significant driver of global energy transition, estimating potential revenues of $100 billion.
The report noted that Mozambique could become one of the world’s top ten LNG producers, accounting for 20% of Africa’s production by 2040.
The expansion of LNG projects by companies like Eni, TotalEnergies, and ExxonMobil underscores Mozambique’s pivotal role in shaping the future of energy in Africa and beyond.
