Maputo: XRG, along with its partners Eni, CNPC, ENH, and Kogas, has announced the positive final investment decision (FID) for the Coral North Floating LNG (FLNG) development. The announcement was made at a signing ceremony in Maputo, which was attended by Mozambique’s President, Daniel Francisco Chapo.
According to Emirates News Agency, the Coral North project builds on the success of Coral South, the first FLNG deployed in African waters. The new development will increase LNG capacity by an additional 3.55 million tonnes per annum (mtpa) offshore Mozambique. The decision follows XRG’s strategic acquisition of Galp’s 10% interest in the Area 4 concession in the Rovuma Basin, completed in March 2025, marking XRG’s inaugural investment in Mozambique.
As a partner in this concession, XRG gains access to the operational Coral South FLNG, the Coral North FLNG, and the planned Rovuma LNG onshore development. Together, these projects represent over 25 mtpa of potential LNG capacity. XRG emphasizes its commitment to supporting projects that offer long-term value for partners, shareholders, and host communities. The Coral North development is seen as a crucial step in unlocking Mozambique’s natural gas resources, enhancing global energy security, and fostering inclusive economic growth.
With strategic acquisitions in countries such as the United States, Azerbaijan, Egypt, Turkmenistan, and Mozambique, XRG is building a robust international gas portfolio. This includes a recent 11.7% equity stake acquisition in Phase 1 of the Rio Grande LNG project in the US, further solidifying XRG’s position in the global gas market.