Who are the partners in the Coral Norte project?

The partners are Eni (Italy), CNPC (China), ENH (Mozambique), XRG (Qatar), and KOGAS (South Korea).

What is the value of the EPCIC contract?

The contract value was not disclosed in the announcement.

How does this contract affect Exxon Mobil (XOM) stock?

There is no direct impact on XOM stock, as Exxon Mobil is not a partner in this project.

Technip and Partners Win EPCIC Contract for Coral Norte FLNG

Technip Energies and its partners have secured an EPCIC contract for the Coral Norte floating LNG project in Mozambique, developed by Eni in partnership with CNPC, ENH, XRG, and KOGAS.

June 9, 2026

2 min read

Source: Offshore Technology

Technip Energies and its partners have announced winning the engineering, procurement, construction, installation, and commissioning (EPCIC) contract for the Coral Norte floating LNG (FLNG) project in Mozambique.

Contract Details

The contract covers the design, construction, installation, and commissioning of an FLNG unit with a capacity of approximately 3.4 million tons per year of LNG. The project is located in the Rovuma Basin offshore and is the second FLNG project in the area after Coral Sul.

Stakeholders

The project is developed by Eni (Italy) in partnership with:

CNPC (China)
ENH (Mozambique)
XRG (Qatar)
KOGAS (South Korea)

Context

This contract marks a significant step in developing Mozambique's gas resources, as the country aims to become a major LNG exporter. Technip Energies has prior experience with FLNG projects, including Coral Sul.

What This Means for Investors

For Exxon Mobil (XOM), which is not a direct partner in this project, the development may signal increased activity in East Africa's gas sector, potentially creating future opportunities for major players. However, there is no direct impact on XOM stock at this time.

Frequently Asked Questions

The Coral Norte FLNG project is a floating LNG unit in Mozambique with a capacity of 3.4 million tons per year, developed by Eni and its partners.

Found this useful? Share it

This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.