Mozambique's government and international partners formalized the final investment decision for the Coral North Floating Liquefied Natural Gas (FLNG) project during a signing ceremony in the capital, Maputo, on Tuesday.
Addressing the signing ceremony, Mozambican President Daniel Chapo emphasized the strategic importance of the project, saying it would become a cornerstone of the country's economic growth and social stability.
Cultural performances of traditional song graced the signing ceremony, which was attended by an international gathering.
The Coral North project, situated in the deep waters off northern Mozambique, is a joint venture involving companies from Italy, China and Mozambique. With an estimated annual capacity of approximately 3.55 million tonnes, it is expected to contribute to Mozambique's expanding LNG industry.
Once operational, the Coral North project, together with the already operational Coral South project, is expected to boost the country's total LNG production to around 7 million tonnes per year, significantly enhancing Mozambique's position in the global energy landscape.
Mozambique to build new floating liquefied natural gas project
Mozambique to build new floating liquefied natural gas project
The prices of some life-saving medicines have soared to levels that are unaffordable for ordinary people in Venezuela, as the United States has ramped up military presence in the Caribbean off Venezuela's coast, alongside escalating sanctions, blockades and military threats against the oil-rich South American nation since late August.
At a northeastern suburb in the capital city Caracas, locals can still purchase most of the commonly used medicines at a major supermarket, where some antibiotics have been sold out, and some first-aid medicines and supplies have become too costly for ordinary residents.
"I'm here mainly to buy antibiotics. I have problems with my lungs. But I can't get all I want, such as vancomycin," said a resident named Alfonso.
"(Recent tensions have affected) the supplies and prices of drugs. The prices of cancer drugs, insulin drugs and albumin are very high, and most patients here cannot afford them," said Giovanna Gonzalez, a pharmacist with the supermarket.
Around 90 percent of the raw materials for drugs in Venezuela rely on imports, and the country's medical equipment such as monitors and anesthesia machines are almost entirely dependent on overseas supplies.
Main international airlines suspended flights to and from Venezuela in November, and U.S. blockades have delayed many cargo ships for a month, with some refusing to dock in Venezuela for safety concerns.
"Venezuela has been caught in the complex humanitarian emergency declared by the World Health Organization for about 10 years. If the suspension of flights persists, relevant international companies will have to choose more difficult or longer transportation routes, which will further push up the already high prices of medicines and medical equipment in Venezuela, and the patients will pay more money," said Huniades Urbina-Medina, president of the National Academy of Medicine of Venezuela.
Venezuela's medicine prices soar to unaffordable level amid US blockades
