Technip Energies CEO: Eni’s Coral Norte FLNG has ‘potential’ for FID in 2024

Eni’s second floating LNG production project in Mozambique has “potential” for a final investment decision in 2024, according to the chief of LNG engineering giant Technip Energies, Arnaud Pieton.

Back in November 2022, the 3.4 mtpa Coral Sul (Coral South) FLNG in Mozambique shipped its first cargo of LNG, adding Mozambique to the LNG producing countries.

The TJS consortium, consisting of Technip Energies, JGC, and Samsung Heavy, built the unit for Eni, the first floating LNG facility ever to be deployed in the deep waters of the African continent.

Italy’s Eni discovered Coral back in May 2012 and it operates the Area 4 along its partners ExxonMobil, CNPC, GALP, Kogas, as well as ENH.

The partners are now working on the second FLNG project offshore Mozambique, called Coral Norte (Coral North).

Pieton told analysts during the Technip Energies 2023 earnings conference call on Thursday that Coral Norte would be a replica of Coral South, which has been a “great success for us and for Eni”.

“We follow very closely, and we are in close contact with Eni,” he said.

If Eni decides to take FID 2024, it would most likely be “towards the end of the year,” Pieton said.

“The work for us is progressing in the sense of early engineering work and preparing the groundwork for being able to hit the ground running at the time of the FID,” he said.

Qatar’s giant LNG expansion

In 2023, Technip Energies secured 10 billion euros ($10.8 billion) of order intake.

In May last year, Technip Energies and and Consolidated Contractors Company won the NFS LNG contract from QatarEnergy worth about $10 billion to build two “mega” LNG trains with a capacity of 8 mtpa each.

Technip and Chiyoda previously won the EPC award for QatarEnergy’s North Field East project which includes building four trains with a capacity of 8 mtpa in the Ras Laffan complex.

QatarEnergy just announced the third North Field expansion phase, called the North Field West project, with a capacity of 16 mtpa.

Asked about whether Technip Energies could achieve order intake of 10 billion euros in 2024 and in 2025, given the set of opportunity for projects such as Adnoc’s Ruwais LNG in the UAE and the third expansion in Qatar, Pieton said the potential for reaching 10 billion euros was there prior to the US pause on non-FTA LNG permits.

“Now, I’m not sure we will reach the 10 billion euros, maybe not, but I’m very confident that we can actually exceed a book-to-build of one for 2024 and 2025 based on what is out there in the pipeline,” he said.

Pieton also touched upon QatarEnergy’s new North Field West project.

“We are not currently active on NFW. This would be way premature. QatarEnergy made an announcement and I would say it is fair to believe that we will start on the prospect,” he said.

“We are eager to find out more and eager to engage. Of course we will be interested, but we know that our client is also well known for keeping things competitive. So very strong interest and of course well positioned, but something that is a thing of the future in 2025,” Pieton said.

Most Popular

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.

CMA CGM’s LNG-powered giant floated out in China

China’s Hudong-Zhonghua has launched the third in a new series of 24,000-teu LNG dual-fuel containerships for French shipping giant CMA CGM.

Venture Global gets OK to introduce gas to final Plaquemines LNG block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the 18th and final liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

More News Like This

Hanwha Engine completes first X-DF engine with VCR tech

South Korea's Hanwha Engine, a subsidiary of Hanwha, has completed what it claims is the world's first WinGD X-DF engine equipped with VCR (variable compression ratio) technology for LNG carriers.

Baker Hughes bags Commonwealth LNG contract

Kimmeridge's Commonwealth LNG has authorized an order for six Baker Hughes refrigerant turbo compressors required for the liquefaction process of its planned 9.5 million tonnes per annum (mtpa) LNG export project near Cameron, Louisiana.

Eni’s Nguya FLNG ready to start serving second phase of Congo LNG project

Italian energy firm Eni hosted on Tuesday the sail-away ceremony for the Nguya floating liquefied natural gas (FLNG) unit in Shanghai, China. The unit is ready to start serving the second phase of Eni's Congo LNG project.

NYK, partners take delivery of QatarEnergy LNG carrier

Japan’s NYK and its partners K Line, Malaysia’s MISC, and China’s CLNG have taken delivery of a 174,000-cbm LNG carrier built under the massive QatarEnergy shipbuilding program.