BP approved as sole LNG buyer for Coral South offshore Mozambique

BP has agreed to acquire 100% of the LNG produced by the Coral South floating LNG facility planned for Area 4 offshore Mozambique.

Offshore staff

LONDON – BP has agreed to acquire 100% of the LNG produced by the Coral South floating LNG facility planned for Area 4 offshore Mozambique.

The accord, which lasts for more than 20 years, has been approved by Mozambique’s government, but remains conditional on theArea 4 operator Eni and its partners Galp, Kogas, and ENH taking a final investment decision, likely by year-end, to move the project forward.

Eni has a 50% indirect interest, owned through EEA, which holds a 70% stake of Area 4. China’s CNPC also has a 20% indirect interest via EEA.

10/05/2016

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