Coral South Project in Mozambique Ships First LNG Cargo, Helps Meet Global Demand
13 Novembre 2022 - 7:17PM
Business Wire
- Floating production vessel expected to produce up to 3.4
million metric tons of LNG a year
- First development to produce from Mozambique’s Rovuma
Basin
- New volumes add to ExxonMobil’s expanding global LNG
portfolio
ExxonMobil announced the first cargo of liquefied natural gas
(LNG) from the $8 billion Coral South floating LNG (FLNG) project
offshore Mozambique, bringing additional LNG volumes to the global
energy market.
Coral South produced its first LNG volumes in early October,
following the FLNG’s on-schedule start-up. 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 to liquefy
3.4 million metric tons of that gas for transport, annually.
“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
is joining the ranks of global LNG producers and contributing to
global LNG supplies at a time when the world needs it most.”
Lower-emissions LNG plays 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 Delegated Operator
of the Area 4 consortium, which is comprised of Eni, ExxonMobil,
CNPC, Galp, Kogas and ENH. Area 4 is operated by Mozambique Rovuma
Venture S.p.A. (MRV), an incorporated joint venture owned by
ExxonMobil, Eni and CNPC, which holds a 70% interest in the Area 4
Exploration and Production Concession Contract. Galp, KOGAS and
Empresa Nacional de Hidrocarbonetos E.P. each hold a 10%
interest.
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strategic, operating, and financial plans and objectives;
statements of future ambitions and plans; and other statements of
future events or conditions, are forward-looking statements. Actual
future results, including project plans, schedules, costs, returns,
and capacities; ultimate recoveries; operating performance and
demand projections could differ materially due to changes in market
conditions affecting the oil and gas industry or long-term oil and
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performance; timely completion of development projects; technical
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unforeseen technical or operating difficulties and unplanned
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