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ADNOC to acquire 10% equity stake in major LNG development in Mozambique

Published by , Editorial Assistant
Hydrocarbon Engineering,


ADNOC has announced the acquisition of Galp’s 10% interest in the Area 4 concession of the Rovuma basin in Mozambique, marking a major milestone in the company’s international growth strategy. The acquisition will entitle ADNOC to a share of the LNG production from the concession, which has a combined production capacity exceeding 25 million tpy.

The Area 4 concession includes the operational Coral South FLNG facility, the planned Coral North FLNG development and the planned Rovuma LNG onshore facilities. This strategic investment is ADNOC’s first in Mozambique and complements ADNOC’s efforts to expand its lower-carbon LNG portfolio to meet growing gas demand and support a just, orderly and equitable energy transition.

Musabbeh Al Kaabi, ADNOC Executive Director for Low Carbon Solutions and International Growth, said: “For over 50 years, ADNOC has been a reliable and responsible global provider of LNG and we are building on this role with this landmark investment in the Rovuma supergiant gas basin in Mozambique as we deliver on our international growth strategy. Natural gas plays an important role to meet growing global demand with lower emissions compared to other fossil fuels and this acquisition supports our efforts to build an integrated global gas business to ensure we continue providing a secure, reliable and responsible supply of natural gas.”

The Coral South development, currently in operation, is capable of producing up to 3.5 million tpy of LNG, and represents the first facility of its kind in Africa. The proposed Coral North development is expected to produce a further 3.5 million tpy of LNG through a FLNG facility to process and liquefy natural gas for export.

The 18 million tpy Rovuma Onshore LNG development is a modular, electric-drive design that will dramatically reduce the carbon intensity of the LNG it produces, when compared to industry benchmarks. The facility’s design philosophy and its emphasis on limiting carbon dioxide (CO2) emissions aligns with ADNOC’s ambition to achieve net zero by 2045.

Mozambique’s Rovuma supergiant gas basin represents one of the world’s largest gas discoveries in the past 15 years and holds proven reserves to provide a stable supply of natural gas to the FLNG and onshore facilities.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/23052024/adnoc-to-acquire-10-equity-stake-in-major-lng-development-in-mozambique/

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