29 November 2016, Sweetcrude, Lagos – Mozambique’s liquefied natural gas, LNG, project is in line for final investment decision after the country’s national oil company gave a major approval expected to drive the project.
The country’s National Hydrocarbons Company, ENH, last week approved its investment plan for the Coral South offshore gas project being led by Italian energy company Eni.
Eni’s board backed its investment plan a week earlier.
It is expected that once all partners do the same, the participants can take a final investment decision, FID, and arrange financing for the LNG project, part of a larger scheme that will require an estimated $50 billion to develop.