ADNOC to Secure 10% Ownership in Key Mozambique LNG Project

On May 22, 2024, ADNOC declared the purchase of Galp’s 10% stake in the Area 4 concession located in the Rovuma basin of Mozambique, signifying a significant advancement in the company's global expansion strategy. This acquisition grants ADNOC a portion of the liquefied natural gas (LNG) output from the concession, which boasts a collective production capacity exceeding 25 million tonnes per annum (mtpa).

The Area 4 concession encompasses the operational Coral South Floating LNG (FLNG) facility, along with the proposed Coral North FLNG development and the planned Rovuma LNG onshore facilities. This strategic venture marks ADNOC's inaugural investment in Mozambique and aligns with its endeavors to broaden its lower-carbon LNG portfolio, addressing escalating gas requirements and fostering a fair, systematic, and inclusive energy transition.

Musabbeh Al Kaabi, ADNOC's Executive Director for Low Carbon Solutions and International Growth, expressed, "ADNOC has maintained its reputation as a dependable and conscientious global LNG supplier for over fifty years, and we are further solidifying this position with our significant investment in the world-renowned Rovuma supergiant gas basin in Mozambique, in line with our international growth strategy. Natural gas plays a pivotal role in meeting escalating global demand with reduced emissions compared to other fossil fuels, and this acquisition bolsters our endeavors to establish an integrated global gas enterprise, ensuring the continuous provision of secure, reliable, and responsible natural gas supply."

The operational Coral South development has the capacity to produce up to 3.5 million tonnes per annum (mtpa) of LNG, marking the inaugural facility of its kind in Africa. The projected Coral North development is anticipated to add another 3.5 mtpa of LNG production capacity through a FLNG facility designed to process and liquefy natural gas for export.

The Rovuma Onshore LNG development, with a capacity of 18 million tonnes per annum (mtpa), adopts a modular, electric-drive design aimed at significantly lowering the carbon intensity of its LNG output compared to industry standards. The facility's design principles prioritize the reduction of carbon dioxide (CO2) emissions, aligning closely with ADNOC's commitment to achieving net-zero emissions by 2045.

The Rovuma supergiant gas basin in Mozambique stands as one of the most significant gas discoveries of the last fifteen years, boasting proven reserves capable of ensuring a reliable supply of natural gas to both the FLNG and Onshore facilities.

Established in 1971, ADNOC is a prominent diversified energy conglomerate, fully owned by the Abu Dhabi Government. Operating throughout the energy value chain, ADNOC's integrated businesses cater to the evolving needs of the energy market while adhering to responsible practices.