Standard Bank and shareholder the Industrial and Commercial Bank of China (ICBC) have become the largest combined lenders to the Coral FLNG project off the coast of Mozambique, giving the project a reported US$8Bn in financing.
Coral FLNG is the first project sanctioned for the development of gas resources discovered by Italian oil company Eni and its partners in the Rovuma Basin off Mozambique in the southern part of the Coral gas reservoir, by means of a floating LNG (FLNG) plant.
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