Galp Updates on Mozambique Area 4 Progress

7 October 2025

Key highlights

Galp to receive $100m from Coral North FLNG FID in 4Q25.
An additional $400m contingent on Rovuma LNG FID.
Galp disputes Mozambique's capital gains tax on Area 4 sale.
Arbitration proceedings initiated against Mozambican State.

Investment Decisions and Payments

Galp has confirmed a contingent payment of $100 million, expected in the fourth quarter of 2025, following the final investment decision (FID) of the Coral North FLNG project. An additional contingent payment of $400 million is linked to the FID of the Rovuma LNG project.

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Dispute with Mozambican State

Galp has formally notified the State of Mozambique regarding a dispute over capital gains tax related to the sale of its stake in Mozambique Area 4. This notification is the initial step towards initiating arbitration proceedings to assess the conduct of the Mozambican State under international investment protection agreements.