"Xrg" Feeling with "The final investment decision" For a station project "Coral North"
Maputo- Mozambique on October 2 / WAM / XRG, each of the company “Eni”, and the “Chinese National Petroleum Corporation” (CNBC), the MBN Oil Company “ENH”, and the South Korean Gas Corporation “Kogaz”, declared its partners in the “District 4” concession from the “Rovoma” basin in Mozambique, making “the final investment decision” in a project in a project Development of the “Coral North floating” to produce liquefied natural gas, during a signing ceremony held in Mapoto in the presence of His Excellency Daniel Francisco Chapo, President of the Republic of Mozambique.
According to the success of the development of “Coral South”, the first floating station of its kind in African waters to produce liquefied natural gas, it is planned that the “Coral North” project will produce an additional 3.55 million metric tons annually of liquefied natural gas from its marine operations off the coast of Mozambique.
The “final investment decision” in the project came after the completion of “XRG” in March 2025, its strategic acquisition of the stake of “Ghaleb”, which amounts to 10% in the global “region 4” franchise, which represents the first investment of the company in Mozambique.
Through its partnership in this privilege, “XRG” will be able to take advantage of possible reserves with a total production capacity of more than 25 million metric tons annually, from the operations of the “Coral South floating station for the production of LNG currently”, and the two liquefied natural gas production plants “Coral North” and “wild Rovoma” is being developed.
Based on its ambitious and responsible investment approach, “XRG” is committed to supporting projects that contribute to creating a long -term value for partners, shareholders and societies in which its business is practiced.
The “Coral North” project is an important step within the company’s efforts to develop natural gas resources in Mozambique, which contributes to enhancing global energy security and advancing sustainable economic growth.
It is worth noting that “XRG” continues, through the implementation of strategic acquisitions in the United States of America, Azerbaijan, Egypt, Turkmenistan and Mozambique, in its efforts to build an integrated and geographically diversified international business portfolio.
The company recently completed its acquisition deal on a 11.7% stake in the first phase of the “Rio Grande” project to export LNG in the United States, which contributes to the consolidation of its position in the global gas market.
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