Page 7 - EurOil Week 49 2022

EurOil PIPELINES & TRANSPORT EurOil

Mozambique’s first LNG cargo

arrives in Bilbao

SPAIN THE first cargo of LNG exported from Mozam- 4, located offshore Mozambique in the Rovuma
bique was delivered to the Spanish port of Bilbao basin. Its first development target within Area 4
BP is handling the LNG on December 7. is the Coral field, which was discovered in 2012.
under a 20-year offtake According to ship-tracking data, the LNG Eni and its partners made an FID in favour of
deal with Cora South arrived in Bilbao on the British Sponsor, a going forward with the $10bn Coral South LNG
LNG. 173,400-cubic metre tanker owned by Kmarin project in 2017, and the FID calls for using the
and chartered by BP (UK). The ship had been Coral Sul FLNG to liquefy 450bn cubic metres
at sea since November 13, when it departed of gas from Coral. The FLNG vessel is currently
Mozambican waters after filling its tanks with anchored at the field in 2,000-metre-deep water,
production from the Coral Sul floating LNG and it is the first floating gas liquefaction plant
(FLNG) vessel. ever to be deployed at a deepwater site off the
BP is handling the LNG under a 20-year coast of Africa.
off-take agreement with the Coral South LNG Coral South LNG is led by Eni. The Italian
consortium, which is led by Eni (Italy). This major acts as the upstream delegated operator
agreement makes the British super-major of the Area 4 consortium, which in turn is com-
responsible for transporting 100% of the LNG prised of Eni, ExxonMobil (US), China National
turned out by the Coral Sul FLNG, which has a Petroleum Corp. (CNPC), Galp (Portugal),
single production train with a capacity of 3.4mn KOGAS (Korea) and Mozambique’s national oil
tonnes per year (tpy). company (NOC), Empresa Nacional de Hidro-
BP and Eni have indicated that a significant carbonetos (ENH).
amount of the LNG produced by Coral South Meanwhile, the operator of Area 4 is Mozam-
LNG will be delivered to Europe, where demand bique Rovuma Venture (MRV), an incorporated
for gas has been running high as a consequence joint venture that is owned by ExxonMobil, Eni
of the Russia-Ukraine war. They have not identi- and CNPC. MRV owns a 70% stake in the Area
field any specific buyers, though. 4 exploration and production concession con-
The Coral South LNG consortium has a tract, while ENH, Galp and KOGAS each have
licence for a section of a block known as Area 10% stakes. ™

Week 49 12•December•2022 www. NEWSBASE .com P7