Morning Star
By Elena Cherubini
LONDON (Alliance News) – Sound Energy PLC on Thursday said it has continued positive discussions with Moroccan authorities in relation to a gas sales agreement from the Tendrara production concession, onshore Morocco.
The Moroccan focused upstream gas company, said talks are ongoing with Morocco’s Office National de l’Electricite et de l’Eau Potable and the Moroccan Minister of Energy for the agreement.
The Minister of Energy has confirmed that the agreement covers all of the gas to be produced from Tendrara, Sound Energy said.
“The GSA is a critical next step that Sound Energy and its partners require ahead of taking a final investment decision on the development,” the company explained.
It added: “The Tendrara development has the potential to offer Morocco both a new strategic domestic gas supply source, thereby reducing its dependency on Algerian imports, and significant new gas transportation infrastructure in the East of Morocco connected to the Gazoduc Maghreb Europe pipeline.”
Sound Energy shares were trading up 1.6% at 23.64 pence each.
By Elena Cherubini; elenacherubini@alliancenews.com
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