Business
Moroccan Gas Sales Principles Agreed
Moroccan Gas Sales Principles Agreed.
About this update from Chariot Limited
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n 12 December 2022\n \n \n \n \n \n Chariot Limited\n \n \n (\"Chariot\" or the \"Company\")\n \n \n \n \n \n Moroccan Gas Sales Principles Agreed\n \n \n Long-term offtake underpins offshore gas development\n \n \n \n \n \n Chariot Limited, the Africa focused transitional energy group (\"Chariot\"), is pleased to announce that along with its partner the Office National des Hydrocarbures et des Mines (\"ONHYM\"), it has agreed key principles\n for long term gas sales from the Anchois Gas Project (\"Anchois\") with the Office National de l'Electricité et de l'Eau Potable (\"ONEE\") (together the \"Parties\"). Anchois is located within the Lixus Offshore licence (\"Lixus\"), offshore Morocco in which Chariot holds a 75% interest and operatorship, alongside ONHYM which holds a 25% interest.\n \n \n \n \n \n \n Key principles include:\n \n \n \n \n \n \n ·\n Sales of up to 0.6 BCM per year (c. 60 mmscf per day) on a take or pay basis for a minimum of 10 years with gas to be delivered via the Maghreb-Europe Gas Pipeline.\n \n \n \n \n \n ·\n Secures direct, domestic supply for Morocco's existing and potential longer term gas power plant infrastructure.\n \n \n \n \n \n ·\n Framework and timetable in place to conclude the gas sales agreement (\"GSA\").\n \n \n \n \n \n With the preliminary key principles now agreed, the Parties will continue discussions regarding Anchois with a view of concluding the binding gas sales agreement. Whilst there is no guarantee that these principles will be turned into a fully termed GSA, the parties are progressing with the next stage of documentation. The Company will provide further updates as required.\n \n \n \n \n \n \n Mrs Amina Benkhadra, General Director Office National des Hydrocarbures et des Mines: commented\n \n :\n \n \n \n \n \n \n \"\n \n \n Agreeing these key principles is indicative of our commitment to the development of the Anchois gas field. We are pleased to be working in partnership with Chariot on this asset which has the potential to deliver a range of benefits to the country.\"\n \n \n \n \n Mr Abderrahim El Hafidi, General Director, Office National de l'Electricité et de l'Eau Potable commented:\n \n \n \n \n \"The Anchois gas project will be an important...