Galp approves investment plan for Coral South in Mozambique

 

Galp Energia has announced that its board of directors has approved the investment related to the Coral South area – the first development related to the discoveries made in the Area 4 of Mozambique’s Rovuma basin.

 

Holding a 10% stake in Area 4, Galp’s approval of the investment is another milestone towards the Final Investment Decision on the project

 

Last October, the consortium signed an agreement with BP for 20-years LNG supply. In November, Eni has approved the first phase investment at US$8 billion, within 1 month, EHN and Galp follow to approve the investment of Coral South Floating LNG Project.

 

Supported by Mozambique GOV and BP, 2nd East & Southern Africa Gas & LNG Conference will launch in Maputo, Mozambique, during March 16-17, 2017. At that moment, Mozambique GOV, BP, Operators and most of the global LNG leaders will attend the conference to share the update information of Eni-FLNG project, S.A gas-to-power/ FSRU as well as Tanzania LNG projects.

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