ADNOC’s acquisition of a stake in the Block 4 concession in Mozambique strengthens its position in the global LNG market and contributes to meeting the growing demand for low-emission energy.
Abu Dhabi National Oil Company (ADNOC) announced the acquisition of a 10% stake in the Block 4 concession of the gas-rich Rovuma Basin in Mozambique.
This strategic step comes within the framework of ADNOC’s efforts to strengthen its global position in the low-carbon liquefied natural gas sector and meet the growing demand for this vital source of energy.
The Block 4 concession represents an important center for LNG production in Mozambique, as it includes the Coral South floating terminal currently in operation, in addition to the planned Coral North and Rovuma projects, which are expected to have a total production capacity of more than 25 Million tons annually.
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This investment is the first of its kind for ADNOC in Mozambique, and reflects the company’s commitment to expanding the scope of its business in the field of low-carbon liquefied natural gas, and supporting efforts to achieve an orderly and responsible transition in the global energy sector.
In this context, Musabih Al Kaabi, CEO of ADNOC’s Low Carbon Solutions and International Growth Department, stated that this investment strengthens ADNOC’s position as a reliable provider of liquefied natural gas, and contributes to meeting the growing global demand for low-emission energy.
It is noteworthy that the “Coral South” project is the first liquefied natural gas production project in Africa, with a production capacity of 3.5 million tons annually. The proposed “Coral North” project is expected to contribute to increasing production by an additional 3.5 million tons annually. As for the Rovuma land station, it is planned to run on electricity to reduce carbon emissions, and its production capacity will reach 18 million tons annually.
