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Eni secures financing for Coral South

MILAN, December 7, 2017 – Eni has secured about USD 4.68 billion of loans for the Coral South FLNG project offshore Mozambique, the Italian super-major announced on Wednesday.

 

The direct and covered loans come from seven different banks and credit agencies including South Korea’s Kexim and France’s BPI.

“Coral South FLNG is the first project sanctioned by the Area 4 Partners for the development of the considerable gas resources discovered by Eni and its partners in the Rovuma Basin offshore Mozambique,” the company statement said. “It targets the production and monetisation of the gas contained in the southern part of the Coral gas reservoir, by means of a floating LNG plant with a capacity of 3.4 [million tpy].”

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