Adnoc’s international investment arm XRG earlier this year completed its acquisition of a 10% stake in the Area 4 concession of Mozambique’s Rovuma Basin. The deal gives XRG access to LNG projects with a combined potential production capacity of more than 25mn t/y, including stakes in the operational 3.5mn t/y Coral South Floating LNG (FLNG), the planned 3.5mn t/y Coral North FLNG and Rovuma LNG’s 18mn t/y onshore development projects (MEES, 28 March).
This week, operator Eni announced that FID has been taken on Coral North, with the partners targeting project completion in 2028. (CONTINUED - 97 WORDS)