Eni to Invest $3 Billion in Mozambican Companies

Eni plans to invest up to $3 billion in Mozambican companies as part of its local content requirements for the Coral Sul project, which exports liquefied natural gas (LNG) from Cabo Delgado province. This is according to Fabrizio Russo, Eni's Director of Procurement in Mozambique.

Coral Norte LNG project, located off the coast of Cabo Delgado, is expected to produce 3.5 million tons of LNG per year and 4,300 barrels of condensate per day for approximately 30 years, with a budget of over $7.2 billion. Eni has already operating the Coral Sul LNG floating platform, anchored 50 kilometers from the coast of Palma district in Cabo Delgado.

Russo noted that Eni's strategy goes beyond mere contract awards and aims to create conditions for more Mozambican companies to enter the gas industry supply chain. With the publication of local content legislation in 2026, the company found that its methodology was largely aligned with the new legal framework.