Great news for Palma, Cabo Delgado province and all of Mozambique

The Mozambican government announced the approval of the structure and the direct financing agreement for the floating liquefied natural gas (FLNG) infrastructure project in the Coral South sector of the Rovuma basin in Cabo Delgado.

This is a decisive step towards the start of financial disbursements for the project, valued at US $ 4.6 billion.

In addition to Italian ENI, the Coral South project involves the Mozambican Hydrocarbons Company (ENH), China’s CNPC, Portugal’s Galp Energia, South Korea’s Kogas and the US’s Exxon Mobil.

Council of Ministers spokesperson Mouzinho Saíde shared the information with journalists at the end of the Cabinet’s 16th regular session yesterday, reiterating that conditions had been created for the start of Coral South project financing.

ACRE sources have also said that the official announcement of the FID for the FLNG project will be in early June.