Italian group ENI is expected to make a final investment decision by December for the project to explore the natural gas reserves discovered in northern Mozambique, said the CEO of the group according to MacauHub .

Claudio Descalzi added, speaking to Jeune Afrique magazine, that a decision on a onshore project with US group Anadarko Petroleum would be taken only in 2017, since it is a more complex process, and advance agreements with international natural gas buyers are needed.

Last October, ENI said that it was still looking to secure debt financing for its Coral LNG project in Mozambique, Africa Report published.

Global liquefied natural gas prices have plummeted in line with oil, with some expecting them to test new lows towards the end of the decade as a wave of supply hits the market just as demand in China slows.