LNG

Technip Energies, together with Japan Gasoline Co. (JGC) and Samsung Heavy Industries, has secured an engineering, procurement, construction and commissioning (EPCC) contract for the Coral Norte floating LNG project off Mozambique. The contract was awarded by Mozambique Rovuma Venture, a joint venture comprising Eni, ExxonMobil and China’ CNPC.

French oil major TotalEnergies is determined to restart its Mozambique LNG project “quickly” for a budget of $20.5 billion, CEO Patrick Poyanne clarified, having asked Mozambique’s President for a $4.5 billion cost adjustment. These additional expenses were incurred during the project’s four-year suspension under force majeure, caused by militant attacks in Cabo Delgado province.

Saudi Armaco, the world’s largest oil producer, is reportedly preparing to divest up to five plants that currently power its refineries. The sale could generate around $4 billion and is part of the Government’s strategy to streamline Aramco’s operations, cut costs and diversify assets.