Mozambican Government Approves Financing for Coral Norte LNG Project

The Mozambican government has given its approval for the financing structure of the Coral Norte Liquefied Natural Gas (LNG) Project, located in Area 4 of the Rovuma Basin off the coast of northern Cabo Delgado province.

The project is operated by Mozambique Rovuma Venture (MRV), a joint venture owned by ExxonMobil, ENI, CNPC, and others. MRV will construct a new floating liquefaction facility with an annual production capacity of 3.6 million tonnes.

According to Salim Valá, government spokesperson and minister of Planning and Development, the approved financing structure aims to incorporate the state-owned Hydrocarbon Company (ENH) in the project by isolating the risk associated with its direct participation.