Led by the Mozambique Rovuma Venture (MRV), the Coral-Sul Floating Liquefied Natural Gas (FLNG) vessel has arrived at Area 4 in the Rovuma Basin, offshore Mozambique. The project represents the first of its kind in the country as well as the world’s first ultra-deepwater FLNG – operating at a depth of 2,000 meters.
With an installed capacity of 3.4 million tons of Liquefied Natural Gas per year, the Coral-Sul FLNG vessel will produce first gas from the Coral offshore field – which has approximately 16 trillion cubic feet of gas in place – and is scheduled to start production in the second half of 2022.
Italian oil supermajor, Eni, majority stakeholder of the MRV and discoverer of the Coral offshore field, will lead the landmark project.
“The Coral Sul FLNG Project is a world-class achievement in engineering, construction know-how, and technology, suited to kickstart the development of Mozambique’s world-class resources,” stated Stefano Maoine, Eni’s Director of Development, Operations, and Energy Efficiency during his speech at the naming and sail away ceremony on 15 November 2021.
During its 25-year lifetime, the project is expected to facilitate $19.3 billion in revenue for the Mozambican State, while additionally meeting global demand for natural gas as well as increasing domestic gas availability in Mozambique.
In addition to revenue creation, the project will be instrumental in enabling the implementation of other projects across the country while increasing socioeconomic benefits such as job creation. Already, the project has resulted in the creation of approximately 800 jobs locally, with an additional 350 expected to become available at the start of production and throughout the project’s lifecycle.
The Coral South Project achieved its Final Investment Decision in 2017, with the construction of the vessel undertaken by international shipbuilder, Samsung Heavy Industries.