Coral FLNG finance gets all-clear from Mozambique

The Coral FLNG project has cleared the last hurdle before its FID, but sign-off on contracts from the fifth licensing round is still a long way away
By Leigh Elston 17 May 2017
A gas flow test off the Mozambican coast. Eni is expected to make an FID on its Coral FLNG project soon. (Anadarko)

Eni’s Coral South FLNG project in Mozambique cleared its last major hurdle before reaching FID on Tuesday, when the country’s cabinet approved the structure for the 3.4 mtpa FLNG vessel’s project financing.

"The value is $4.6 billion dollars. This approval will allow the start of operations to finance this project," Deputy Health Minister Mouzinho Saide said following a meeting of Mozambique’s Council of Ministers on Tuesday.

As well as approving the financing structure for the FLNG vessel, which will be constructed in shipyards in South Korea by...

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