Eni finalises $7bn Mozambique gas project investment

An Eni-led group signed off this month on a $7-billion investment in a project to export natural gas from Mozambique. The country’s President Filipe Nyusi and Eni CEO Claudio Descalzi attended a ceremony in the capital Maputo on June 1 to formally approve the Coral South liquefied natural gas project. Once built, the floating LNG plant, with a capacity of about 3.4-million tons a year, will draw gas from the Rovuma Basin where Eni made its first major Mozambique find in 2011.