Mozambique Approves $7.2B Coral Norte LNG Project, Signaling Major Investment Wave
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Mozambique has taken a major step forward in its energy transformation with the government’s recent approval of Eni’s Coral Norte Floating LNG (FLNG) project in the offshore Rovuma Basin. Announced on April 9, the decision marks a key milestone for the country and signals its readiness to welcome large-scale energy investments and strategic partnerships. Backed by a $7.2 billion investment, Coral Norte is set to produce 3.55 million tons per annum (MTPA) of LNG, making it one of the most ambitious developments in the region and positioning Mozambique as a rising force in global LNG production and exports.
A New Era for Gas Development in Mozambique
Mozambique’s approval of the Coral Norte project is expected to trigger a fresh wave of foreign investment and technical expertise, serving as a strong vote of confidence in the ability of African governments to greenlight and advance large-scale energy developments. Beyond its economic significance, the project opens major opportunities for contractors and service providers across engineering, construction, logistics and digital solutions. With this green light paving the way for a Final Investment Decision later this year, the move reinforces the government’s commitment to converting its natural gas reserves into long-term economic value.
It also signals Mozambique’s readiness to partner with global energy leaders, building on the success of Eni’s Coral Sul FLNG facility – launched in 2022 with a capacity of 3.4 MTPA – which has set a solid operational benchmark. As Coral Norte progresses, it is expected to generate jobs, enhance local capacity and strengthen the country’s upstream value chain. The approval further positions Mozambique as a business-friendly destination for major energy investments, sending a positive signal for the advancement of other flagship projects in the Rovuma Basin, including ExxonMobil’s Rovuma LNG and TotalEnergies’ Mozambique LNG developments.
Coral Norte Sets the Stage for Investment Talks in Paris
As major investments gain momentum, the upcoming Invest in African Energy Forum in Paris next month will spotlight bankable opportunities like Coral Norte, with a view to accelerating investment into Africa’s LNG growing sector. Mozambique’s latest approval sends a clear message to global markets: the country – and the continent – is open for business and serious about monetizing its gas resources. With energy security and supply diversification high on the global agenda, Coral Norte stands out as one of Africa’s most promising LNG ventures. Its approval sets the tone for high-level discussions in Paris, providing a timely and tangible example of how streamlined approvals and strategic partnerships can drive impactful progress.
More than just a regulatory step, the Coral Norte green light reflects Mozambique’s broader vision to convert its gas reserves into long-term economic development. As the project moves forward, it is expected to drive increased foreign investment, foster innovation and strengthen collaboration across the energy value chain – contributing not only to national growth but also to investor confidence in Africa’s LNG potential.
IAE 2025 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.invest-africa-energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.