The LNG project operated by ENI in the Mozambique Channel, Coral South, is expected to produce its first shipment of LNG this year, in 2022. The centerpiece of the project (the natural gas liquefaction units) is based on an offshore Floating LNG (new built vessel) built in a Samsung shipyard in South Korea which arrived at its production site last January. This vessel has a production capacity of 3.4 Mtpy of LNG and was financed by ENI in the form of Capex. The choice of this technology, although expensive, without economy of scale, and inefficient in terms of local content, seems to pay off a priori given the stand off of competing mega-projects on land - Mozambique LNG (Total Energies) and Rovuma LNG (Exxon Mobil) – due to security problems in Northern Mozambique (terrorist attacks).

The African continent will therefore have two FLNG units in operation this year in its maritime waters. The first FLNG installed in Africa is the one used by Perenco since 2018 in the coastal waters of Cameroon and with a capacity of 2.4 Mtpa. This FLNG was supplied by Golar LNG (conversion of an existing LNG carrier in Singapore shipyard) and is reimbursed by Perenco to Golar via a lease contract (Opex).