The CEO of Eni, Claudio Descalzi, has met with the President of the Republic of Mozambique, Filipe Nyusi today. The Minister of Mineral Resources and Energy Max Tonela also took part in the meeting.
Mr. Descalzi updated President Nyusi on the Eni-led Coral South Project, which will put in production Mozambique’s gas resources. The project is on track and the Coral Sul FLNG, being finalized in South Korea, is set to become the world’s first ultra-deepwater FLNG and the first LNG producer in Mozambique. Coral South – a landmark project for the industry – will project Mozambique onto the global LNG stage, paving the way to a transformational change of the Country through the development of gas resources, one of the most effective solutions to ensure a just energy transition.
Mr. Descalzi and President Nyusi also discussed opportunities in the agro-industrial chain, focused on the valorization of agricultural waste and the cultivation of oleaginous plants that do not impact food production. These would be converted into premium biofuels thanks to proprietary technology in Eni’s biorefineries. The initiatives would ensure job creation and allow farmers direct access to the market.
Finally, Mr. Descalzi updated President Nyusi on the status of Eni forestry initiatives in the country, including the REDD+ assessment to protect and conserve forests across an area of over 3 million hectares on the great Limpopo transfrontier conservation area, in Mozambique, which Eni started in August 2021. Through this REDD+ project, Eni will be able to progressively achieve Net Zero scope 1 and 2 emissions for its equity share in the Mozambican upstream projects and potentially supply the Coral South project with the carbon credits needed to reach carbon neutrality. REDD+ projects have a significant impact in terms of community benefits and on biodiversity protection, in addition to GHG emissions reductions.