Eni Advances US$7.2 Billion Coral North LNG Project Towards 2028 Start-Up
Italian energy company Eni is advancing development of its Coral North floating liquefied natural gas (FLNG) project offshore Mozambique, with production targeted for 2028 as the company prepares to expand the country’s LNG export capacity.
The project is located in Area 4 of the Rovuma Basin, offshore Cabo Delgado in northern Mozambique.
It is designed to produce approximately 3.55 million tonnes of LNG annually, doubling the country’s output from its existing Coral South floating facility when both projects operate at full capacity.
Valued at approximately US$7.2 billion, Coral North reached a final investment decision in October 2025.
The development will exploit natural gas reserves in the northern section of the Coral reservoir, building on the operational experience gained from Coral South, which began production in 2022.
Eni plans to begin a new drilling campaign in November 2026, with up to six development wells expected to supply gas to the Coral North facility.
The drilling programme forms part of efforts to maintain the project’s schedule for its planned 2028 start-up.
The Coral North project is being developed by partners in Area 4, including Eni, China National Petroleum Corporation (CNPC), Korea Gas Corporation (KOGAS), Mozambique’s state-owned Empresa Nacional de Hidrocarbonetos (ENH) and XRG, a subsidiary of Abu Dhabi National Oil Company (ADNOC).
Eni holds a 50% interest in the project, while CNPC holds 20%. KOGAS, ENH and XRG each hold 10%.
Once operational, Coral North is expected to increase Mozambique’s LNG production capacity to more than seven million tonnes annually when combined with Coral South.
The expansion is expected to strengthen the country’s position in international gas markets, particularly in Asia and Europe.
The project is also expected to generate economic benefits for Mozambique through government revenues, employment and opportunities for domestic suppliers.
Eni has projected that Coral North could contribute approximately US$23 billion in tax revenues over its planned 30-year operating life.
Coral South, which has a liquefaction capacity of approximately 3.4 million tonnes per year, has already established Mozambique as an LNG exporter. Its offshore location has also demonstrated the potential of floating LNG technology to commercialise the country’s substantial gas reserves.
Beyond Coral North, Eni is assessing the possibility of developing a third floating LNG facility in the Rovuma Basin.
The proposed development remains under evaluation as the company considers opportunities to expand production from the region’s extensive natural gas resources.
Mozambique holds significant offshore gas reserves in the Rovuma Basin, attracting investment from international energy companies seeking to develop large-scale LNG projects.
These include the Mozambique LNG project led by TotalEnergies and the proposed Rovuma LNG development led by ExxonMobil.
As Coral North progresses towards its targeted 2028 start-up, the project is expected to play a central role in expanding Mozambique’s gas production, increasing export capacity and strengthening its position as a major LNG supplier in Africa.
