Business
Eastern Morocco Portfolio Update
Eastern Morocco Portfolio Update.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 5141Z Sound Energy PLC 13 January 2020 \n\n13 January 2020 \n \nSound Energy plc\n(\"Sound Energy\" or the \"Company\")\n \nEastern Morocco Portfolio Update \n \n \nSound Energy, the Moroccan focused upstream gas company, is pleased to provide an update on the Environmental Impact Assessment (\"EIA\") approvals, negotiations of Tendrara Gas Export Pipeline (\"TGEP\") corridor rights and the Gas Sales Agreement (\"GSA\") negotiations.\n \nEIA of the TGEP:\n \nThe Company is pleased to announce receipt of EIA approval from the Moroccan Ministry of Energy, Mines and Environment to build and operate a 120 km 20 inch gas pipeline connecting the proposed gas treatment plant and compression station (\"CPF\") to the Gazoduc Maghreb Europe pipeline (\"GME\"). The TGEP will cross the Matarka Commune (Province of Figuig) and Merija Commune (Province of Jerada) to reach the delivery point of the GME. \n \nEIA of the gas treatment plant and compression station:\n \nThe Company advises that the EIA process related to CPF is progressing well. The initial meeting of the National Committee from the Moroccan Ministry of Energy, Mines and Environment to review the CPF EIA was held on 10 October 2019. The second meeting of National Committee to further consider and, if agreed, to approve CPF EIA is scheduled on 28th January 2020. \n \nTendrara Gas Export Pipeline corridor rights:\n \nThe Company advises that ongoing discussions with the representatives of the Morocco's Ministry of Interior to obtain rights through a long-term lease agreement for a 50m wide corridor along the entire 120 km length of the TGEP are progressing to plan.\n \nTendrara Gas Sales Agreement MOU:\n \nThe Company confirms that GSA negotiations continue and, as indicated in the announcement made on 2 January 2020, is now pleased to announce signature of the amendment to the binding memorandum of understanding with Morocco's Office National de l'Electricité et de l'Eau Potable, the state power company of Morocco, in order to extend the period for negotiations of the final GSA to 31 March. \n \nThe Company continues to work on a Build-Own-Operate-Transfer funding solution for the infrastructure at the Tendrara Concession in parallel with progressi...