Energy Development
Technip-led Team Wins Bid for $7.2B Mozambique Floating LNG Facility
Effort to further develop nation's offshore gas fields passes major milestone
Project stakeholders attend the launch of the floating hull for the Coral Norte LNG facility at Samsung Heavy Industries' shipyard in South Korea on Jan. 16, 2026. The recent award of the EPCIC contract is another milestone in developing Mozambique's offshore gas fields.
Mozambique Rovuma Venture SpA (MRV), an incorporated joint venture developing the $7.2 billion Coral North floating liquefied natural gas (FLNG) project in Mozambique has picked a consortium led by French-based, Technip Energies, for the engineering, procurement, construction, installation and commissioning (EPCI&C) contract.
MRV is a joint venture owned by Rome-based Italian hydrocarbons major Eni SpA, U.S-based oil and gas giant ExxonMobil and China National Petroleum Corp., which together have a combined stake of 70% participative share in Mozambique's 2,516-sq-km Area 4 concession, an offshore natural gas block in the Rovuma Basin of Mozambique’s Cabo Delgado province. The award of the EPCIC contract ushers the Coral North FLNG project into the installation and commissioning phase MRV said, with the developers envisaging a LNG output of 3.6 million tonnes per annum (mtpa) by 2028.
The Technip Energies-led consortium, which includes Japan's JGC Holdings Corp., through its affiliate JGC France S.A.S, and South Korea-based Samsung Heavy Industries is expected to deliver the FLNG project over the next two years, extracting natural gas from the deep offshore waters of Mozambique’s Exclusive Economic Zone located approximately 50 km offshore.
Galp Energia Rovuma B.V., KG Mozambique Ltd., and state-owned National Hydrocarbons Co. (ENH), each have a 10% participation interest in the Area 4 concession.
Technip Energies did not specify the precise value of the EPCIC contract but said it is a 'major' deal, which in company terms is more than $1 billion euro ($1.14 billion) of revenue. The company says it is booking this project's revenue in the second quarter of 2026.
In a press release, Technip Energies General Director Arnaud Pieton cited the company's "design one, build many" approach as a key reason the company has been able to book so many offshore facilities in recent years. On June 25, Technip Energies announced it had been awarded an EPCI contract by Norway's Vår Energi for two of its North Sea offshore oil initiatives, the Ofelia and Gjøa Nord projects. Technip Energies signed a five-year collaboration agreement with Vår Energi in 2025.
Supplemental Awards Show Project's Momentum
The award of the Coral North EPCI&C contract by MRCV coincides with the recent selection of Japanese floating solutions provider, MODEC, as preferred bidder for the supply of the FLNG project's mooring system.
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MODEC will supply its SOFEC internal turret mooring system solution to MRV to secure the FLNG's vessel to the seabed offshore Mozambique in water depths of approximately 2,000 meters.
The Coral North FLNG's main vessel hull is being developed at South Korea's Geoje shipyard owned by Samsung Heavy Industries following its official launch in January, a process led by Mozambique's state owned oil and gas regulator Instituto Nacional De Petroleo.
A key contract for the acquisition and installation of critical equipment for the new vessel was awarded in December to TechnipFMC, a French-American, U.K.-domiciled global oil and gas company, for the manufacture and installation of the entire subsea production systems including flexible flowlines, risers, subsea manifolds and umbilicals.
Although the company has not disclose the value of the subsea works deal, it notes on its project profile webpage that its products and services supplied to the Mozambican project rose to $268 million by the end of 2025, up from $93 million in 2024.
Construction of the Coral North FLNG project, which is expected expected to generate around $23 billion in revenue over its 25-year lifespan, brings to two the number of large offshore natural gas extraction and processing projects in Mozambique. The Coral South project was commissioned in 2022, and became the first floating natural gas liquefaction unit built for the African continent and the third of its kind in the world.
Together the Coral North and South FLNG projects are expected to increase Mozambique's annual LNG capacity to seven mtpa, positioning the country as the third largest producer in Africa, after Algeria and Nigeria which currently produce 29.3 million and 22.2 million tons respectively.
