Eni Launches Massive $670M Coral North FLNG Hull in South Korea for Mozambique Gas Project
Italian energy giant Eni, alongside partners China National Petroleum Corporation, ENH, KOGAS, and XRG, has successfully launched the hull of the Coral North FLNG facility at Samsung Heavy Industries’ Geoje shipyard in South Korea, marking a major milestone in Mozambique’s ambitions to become Africa’s third-largest LNG producer.
The ultra-large floating liquefied natural gas unit measures 432 meters in length and 66 meters in width, weighing approximately 123,000 tons at launch. The vessel is large enough to line up four soccer fields end to end, making it one of the most ambitious offshore energy projects currently under construction.
Coral North will be the second FLNG unit deployed in the supergiant Rovuma Basin offshore Cabo Delgado, Mozambique, following the successful Coral South facility that began LNG production in 2022 and has delivered more than 135 LNG cargoes to date. With a liquefaction capacity of 3.6 million tons per annum, Coral North will double Mozambique’s total LNG output to around 7 million tons per year.
The launch ceremony was attended by high-profile dignitaries including Estevão Pale, Mozambique’s Minister of Natural Resources and Energy, Guido Brusco, Eni’s Chief Operating Officer for Global Natural Resources, and Sung-an Choi, Vice Chairman and CEO of Samsung Heavy Industries, along with approximately 80 other guests. Samsung Heavy Industries and Eni signed a preliminary agreement for main construction works worth 869.4 billion Korean won, approximately $670 million, in July last year. The project is targeting completion in 2028, following a final investment decision taken in October 2025.
The project will bring into production natural gas from the northern section of the Coral reservoir in Area 4 concession. Building on operational experience gained from Coral South, the facility has been designed with enhanced efficiency and optimized performance to reduce costs and execution risks, applying standardized solutions developed from Eni’s first LNG deployment in Mozambique.
Eni emphasized that the project will significantly increase economic benefits for Mozambique, including higher LNG revenues, job creation, and support for local industry. The expansion will also strengthen Mozambique’s role in global gas markets and support investments in local downstream initiatives. The project is being developed by a joint venture comprising Eni with a 50 percent stake, China National Petroleum Corporation at 20 percent, Korea Gas Corporation at 10 percent, Mozambique’s Empresa Nacional de Hidrocarbonetos at 10 percent, and Abu Dhabi National Oil Company subsidiary XRG at 10 percent.
Samsung Heavy Industries highlighted its dominant position in the global FLNG market, having secured six orders out of 10 FLNG units ordered worldwide. The company has delivered a total of four facilities, including Shell’s Prelude, the world’s largest FLNG unit, and is currently constructing two additional units at its Geoje shipyard.
Eni has operated in Mozambique since 2006 and discovered major gas resources in the Rovuma Basin between 2011 and 2014 through an extensive drilling campaign on the Coral, Mamba Complex, and Agulha reservoirs, with an estimated 2,400 billion cubic meters of gas in place.
Sources: offshore-energy.biz, energycapitalpower.com, offshore-mag.com
