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.
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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.
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