Mozambique on Tuesday approved the development plan for Eni's second floating liquefied natural gas platform, Coral Norte, paving the way for a final investment decision.
According to a government statement, the plan will see the production of 3.55 million metric tons per annum of LNG over 30 years from offshore Mozambique's Rovuma Basin.
The project, valued at around $7.2 billion, is expected to start production in the second half of 2028, the statement said.
Eni's first FLNG plant, Coral South, started exporting gas to Europe in 2022 as Mozambique looks to develop massive gas reserves found offshore the southern African country.
ExxonMobil and TotalEnergies are also developing LNG projects onshore, although they have suffered delays due to security concerns.
(Reuters - Reporting by Manuel Mucari; editing by Wendell Roelf and Nia Williams)
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