Mozambique’s LNG sales triple to $1.7 billion in 2023

Mozambique

MAPUTO, March 21, 2024 – Mozambique tripled its income from LNG sales in 2023 to reach USD 1.7 billion, local media reported on Thursday, citing the Bank of Mozambique.

The country’s LNG export volumes jumped 218% over 2022 levels, according to the bank – a rise driven by the start-up of the 3.4-million-tonne-per-year Coral Sul FLNG vessel in November 2022.

Income from LNG sales in 2022 was USD 541.6 million.

Coral Sul produces from the Coral field in the Area 4 offshore licence, where ExxonMobil, Eni and China National Petroleum Corporation are partners. The field is estimated to hold 450 bcm (around 16 tcf) of gas reserves.

Eni is planning to add a second FLNG vessel in Area 4, the USD 7-billion Coral Norte, which is anticipated to begin operations by 2027.

Meanwhile, ExxonMobil and partners are targeting a 2025 FID for the 18-million-tonne-per-year Rovuma LNG project, also fed by Area 4 gas.

Photo courtesy of Eni.

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