Eni Agrees to Build $7.2 Billion LNG Project in Mozambique

Eni SpA gave financial approval to build a $7.2 billion floating liquefied natural gas project in Mozambique that will double the nation’s production of the fuel, adding to global supply just as a wave of new production hits later this decade.

The Coral Norte project off Mozambique’s northern coastline will be able to produce 3.6 million tons of LNG a year and will use the same design as Coral Sul, which started exporting the fuel in 2022.