- The floating production vessel is expected to produce up to 3.4 million metric tons of LNG per year
- First development to produce from the Rovuma Basin in Mozambique
- New Volumes Add to ExxonMobil’s Expanding Global LNG Portfolio
IRVING, Texas–(BUSINESS WIRE)–ExxonMobil announced the first shipment of liquefied natural gas (LNG) from the $8 billion floating Coral South (FLNG) LNG project offshore Mozambique, bringing additional LNG volumes to the global energy market.
Coral South produced its first volumes of LNG in early October, following the on-time start-up of the FLNG. The Coral South FLNG is expected to produce 450 billion cubic meters of natural gas from the Coral Reservoir in Mozambique’s Rovuma Basin – and liquefy 3.4 million metric tonnes of that gas for transportation, each year.
“The Coral South project will bring significant long-term economic value to the people of Mozambique,” said Peter Clarke, head of ExxonMobil’s LNG business. “Today’s first cargo milestone is a testament to the hard work, continued investment and successful execution of our integrated consortium team. Mozambique joins the ranks of global LNG producers and contributes to the global supply of LNG at a time when the world needs it most.
Low-emission LNG is playing an increasingly important role in ExxonMobil’s portfolio. The company plans to nearly double its LNG offerings by 2030 as low-cost, capital-efficient projects like Coral South come online.
Coral South is operated by Eni, the upstream operator of the Area 4 consortium, which includes Eni, ExxonMobil, CNPC, Galp, Kogas and ENH. Zone 4 is operated by Mozambique Rovuma Venture SpA (MRV), an incorporated joint venture owned by ExxonMobil, Eni and CNPC, which holds a 70% interest in the Zone 4 exploration and production concession contract. Galp, KOGAS and Empresa Nacional de Hidrocarbonetos EP each hold a 10% stake.
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