Gas Corporation Produces First LNG in Mozambique Coral South Project

A view of liquefied natural gas (LNG) production offshore in Block 4, Mozambique. (Photo by Korea Gas Corporation)

[Asia Economy Sejong=Reporter Dongwoo Lee] Korea Gas Corporation announced on the 14th that it has completed the first liquefied natural gas (LNG) production and shipment from the 'Coral South' project, the first commercialization project in Mozambique Area 4 block.

Coral South is a project that produces LNG by directly extracting gas from the seabed through an offshore Floating Liquefied Natural Gas (FLNG) plant. Starting with this shipment, it plans to produce and sell 3.37 million tons of LNG annually for 25 years until 2047.

Coral South is the first project in which the Gas Corporation participated in the entire 'LNG value chain' process, from exploration to gas field development, FLNG construction, and LNG production.

Last year, Samsung Heavy Industries completed the construction of the FLNG at its Geoje shipyard, and after arriving at the offshore site in January this year and undergoing commissioning, the first shipment was made this time.

The Mozambique Area 4 offshore block is the largest resource project in the history of domestic resource development, and the Gas Corporation participated in the project with a 10% stake in 2007, successfully securing gas equivalent to three years of domestic demand.

A Gas Corporation official said, "This project created an economic effect worth 3.5 billion dollars through the joint advancement of domestic companies such as Samsung Heavy Industries," adding, "We will accelerate efforts to strengthen financial soundness by improving profitability in overseas projects, starting with this first cargo shipment."

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