The operation of the Liquefied Natural Gas (LNG) exploration project known as Coral Sul, located in the Rovuma Basin, in the province of Cabo Delgado, in northern Mozambique, reached a significant milestone reaching 90% of its installed capacity.
The announcement was made by the Minister of Mineral Resources and Energy, Carlos Zacarias, who revealed that the 28th and final shipment of LNG produced on the Coral Sul platform was completed last Tuesday (25). This venture's main markets are Europe and Asia, including the Middle East.
Minister Carlos Zacarias emphasized that this achievement is a notable boost for the country's economic growth, as the gains generated by tax collection will contribute significantly to the national economy.
He also highlighted the importance of other projects related to natural gas production in Mozambique, such as Pande and Temane, both located in the southern province of Inhambane, and Coral Sul FLNG. In addition to exports, part of gas production is used internally in industry and electricity generation, which further strengthens the country's economy.
Carlos Zacarias assured that the government of Mozambique will continue to promote the country's opening to national and foreign investment in the energy sector, recognizing the fundamental role of these investments for sustainable economic development.
Based on the solid performance of the natural gas industry and considering steady growth over the past eight years, the national economy is on track to achieve an annual growth rate of approximately seven percent. This represents a significant opportunity to boost economic development and improve the quality of life of the population of Mozambique.
The Coral Sul project, located in the Rovuma offshore basin in Cabo Delgado, is a partnership between several companies, with BP committing to purchase all LNG produced at FLNG Coral Sul as part of a 20-year contract. Eni, with an indirect 50 percent stake through Eni East Africa, holds a significant portion of the project, while other companies such as Kogas, Galp, ENH and China National Petroleum Corporation (CNPC) also have major stakes in the project. enterprise.
This notable progress in the LNG sector represents a significant milestone for Mozambique, positioning the country as a key player in the global energy market and offering positive prospects for future economic growth.
