Eni Closes Financing For Coral South Floating LNG

Oil giant, Eni and its partners in Area 4 in the Rovuma basin offshore Mozambique have secured more than $4.675 billion for the Coral South floating LNG project.
This comprises covered loans from the BPI, KEXIM, Ksure, Sace and Sinosure export credit agencies; and direct loans from Commercial Bank and KEXIM, according to Offshore report.
Coral South, as the name implies, is designed to produce gas from the southern part of the Coral reservoir via a 3.4 MMt/yr FLNG plant.
Last year the partners agreed to sell 100percent of the LNG production to BP. Earlier this year, ExxonMobil agreed to farm into 25percent of the Area 4 joint venture.

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