XRG, together with its partners Eni, CNPC, ENH, and Kogas, in the Area 4 concession in the Rovuma Basin, has reached a positive final investment decision (FID) for the Coral North floating LNG (FLNG) development at a signing ceremony held in Maputo, Mozambique, attended by the President of Mozambique, Daniel Francisco Chapo.
Building on the success of Coral South, the first FLNG deployed in African waters, Coral North will add an additional 3.55 million tpy of offshore LNG capacity to Mozambique.
The FID follows XRG’s strategic acquisition of Galp’s 10% interest in the world-class Area 4 concession, completed in March 2025, marking its first investment in Mozambique. As partner in this concession, XRG has access to the operational Coral South FLNG, Coral North FLNG, and the planned Rovuma LNG onshore development, collectively representing over 25 million tpy of potential LNG capacity.
As a responsible, disciplined investor, XRG is committed to supporting projects that deliver long-term value for partners, shareholders, and host communities. Coral North represents a critical step in further unlocking Mozambique’s natural gas resources, contributing to global energy security and enabling inclusive economic growth.
With strategic acquisitions in the US, Azerbaijan, Egypt, Turkmenistan, and Mozambique, XRG continues to build a robust and geographically diverse international gas portfolio. This includes the recent acquisition of an 11.7% equity stake in Phase 1 of the Rio Grande LNG project in the US, further strengthening XRG’s position in the global gas market.
