Adnoc has made a significant stride in its international growth strategy by acquiring Galp's 10% interest in the Area 4 concession of the Rovuma basin in Mozambique. This acquisition allows Adnoc to have a share in the liquefied natural gas (LNG) production from the concession, which has a combined production capacity of over 25 million tonnes per annum (mtpa). The Area 4 concession includes the operational Coral South Floating LNG (FLNG) facility, the planned Coral North FLNG development, and the planned Rovuma LNG onshore facilities.
This strategic investment in Mozambique is the first of its kind for Adnoc and is aligned with its efforts to expand its lower-carbon LNG portfolio in order to meet the growing demand for gas and support an orderly and equitable energy transition. Musabbeh Al Kaabi, Adnoc's Executive Director for Low Carbon Solutions and International Growth, highlighted the importance of natural gas in meeting global demand with lower emissions compared to other fossil fuels.
The Coral South development, currently in operation, has a capacity to produce up to 3.5 mtpa of LNG. It is the first facility of its kind in Africa. The proposed Coral North development is expected to add an additional 3.5 mtpa of LNG through a FLNG facility for exporting.
The 18-mtpa Rovuma Onshore LNG development follows a modular, electric-drive design that significantly reduces the carbon intensity of the produced LNG when compared to industry benchmarks. Adnoc's ambition to achieve net zero by 2045 aligns with the facility's design philosophy, which places emphasis on limiting carbon dioxide (CO2) emissions. Mozambique's Rovuma supergiant gas basin is one of the largest gas discoveries in the past fifteen years, holding proven reserves to ensure a steady supply of natural gas to the FLNG and Onshore facilities.
