Business
Memorandum of Understanding with Afriquia Gaz
Memorandum of Understanding with Afriquia Gaz.
About this update from Emmerson Plc
[{"type":"text","content":"\n \nRNS Number : 3635X Emmerson PLC 29 April 2019 \n\nEmmerson Plc / Ticker: EML / Index: LSE / Sector: Mining\n29 April 2019\nEmmerson Progresses the Development of Khemisset Project with Memorandum of Understanding with Afriquia Gaz\nHighlights\n· Memorandum of Understanding (\"MoU\") signed with Afriquia Gaz (\"Afriquia\") to establish a sustainable partnership between the two parties including:\no Agreement to work towards a long-term supply agreement for gas to Khemisset Potash Project (\"Khemisset\" or \"the Project\")\no Agreement to evaluate the best method for supply of gas to Khemisset, including pipeline or regular truck delivery\no Agreement to assess the most appropriate source of gas, including the evaluation of existing infrastructure, producing and proposed gas fields in Morocco\n· Afriquia is the leading distributor of gas in Morocco, and currently delivers significant quantities of Liquified Petroleum Gas to numerous major industrial consumers across the country \n· Emmerson believes that a number of attractive options are available for the economical supply of gas to Khemisset resulting in significant improvements to several assumptions in the Scoping Study\n· Potential to improve on already outstanding economics for Khemisset including its post-tax NPV10 of US$1.14 billion using industry expert potash price forecasts\n· MoU reinforces Emmerson's commitment to identify the best partners for Khemisset as well as additional opportunities for cost savings as development progresses at the project\nEmmerson Plc (\"Emmerson\" or \"the Company\"), focused on developing the low cost, high margin Khemisset Potash Project, is pleased to announce that it has signed an MoU with Morocco's largest gas distributor. \nThe MoU outlines the framework under which the two parties will work towards a long-term gas supply agreement for the world class Khemisset Potash Project.\nThe MoU states that the groups will work together to assess various methods of gas delivery to the Project, with both a gas pipeline and truck delivery under consideration, as well as the most appropriate source of gas from existing and proposed Moroccan gas fields. Afriquia will work with the Company to review the technical specifications of the drying and steam generation ...