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Coral Norte gas project: AfDB approves $150 million in Mozambique

27/01/2026
Source : ORISHAS FINANCE
Categories: Sectors

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The BAD officially announced on Thursday, January 22 have approved $150 million in funding for the project Coral Norte gas company, under development off the coast of Mozambique, in the basin Rovuma sedimentary.

The development of the Coral Norte gas project has experienced an evolution recently. At the beginning of October last year, Agence Ecofin reported the making of the final investment decision (FID) by the operator Italian Eni and its partners, thus validating a project estimated at 7.2 billion Of dollars.

The formalization of this decision paved the way to the effective launch of large-scale work. On January 16, the shell of the floating unit was launched at the Samsung Heavy Industries shipyard , in Geoje, en South Korea, according to information provided by stakeholders.

For its part, the ADB indicates that the Decision on the financing of the project was taken on 14 January by its Council of administration, at a meeting devoted to the review of several projects of investment on the continent. This funding presented by the institution as part of its support for energy security on the continent, aims at “ support the d é project development mso-bidi-font-family: "Bookman Old Style">” combining several financial partners, including d ' others institutions of funding of é development, CR agencies é says to l ' export and pr ê commercial writers mso-bidi-font-family: "Bookman Old Style">” .

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