XRG closes Mozambique Area 4 gas asset deal

ABU DHABI, March 31, 2025 – XRG, ADNOC’s USD 80-billion energy investment arm, has completed the acquisition of Galp’s 10% stake in the Area 4 concession in Mozambique’s gas-rich Rovuma Basin, XRG announced on Friday.

The acquisition, which was first announced by ADNOC in May 2024, includes equity participations in the operational Coral Sul FLNG, the planned Coral Norte FLNG and Rovuma LNG’s onshore development projects.

“We are proud and excited to be part of the responsible development of Mozambique’s world-class Rovuma Basin. Together with the Government of Mozambique and our partners, we are looking forward to sharing our expertise, adding value and accelerating these developments towards their full potential LNG capacity,” said Khaled Salmeen, COO of XRG.

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Located offshore in Mozambique’s Rovuma Basin, the Eni-operated Coral Sul FLNG is Mozambique’s first operating LNG project. With a nameplate capacity of 3.5 million tonnes per year (tpy) of LNG, it is also the second-largest FLNG vessel in the world. The Coral Norte FLNG, also operated by Eni, is expected to produce an additional 3.5 million tpy when it comes online.

The onshore Rovuma LNG project is being led by ExxonMobil and will produce an additional 18 million tpy of LNG. It is currently in the FEED phase, which is expected to be finalised in 2025.

The acquisition is XRG’s first in Mozambique, following recent investment in natural gas assets and LNG facilities in Azerbaijan, Egypt and the USA.

Photo of Coral Sul FLNG courtesy of Eni

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