Supply of LNG for Morocco's rising energy demands
Deployment of field gas treatment, processing, liquefaction and storage facilities to deliver mobile LNG to buyer at site. The LNG buyer will distribute and sell on to its growing Moroccan industrial consumers within the domestic gas market.
Supplies of LNG are to be an annual contractual quantity of 100 million standard cubic metres of gas (approximately 4 billion standard cubic feet of gas per year) over a ten-year period in a liquid form.
Binding gas sales agreement and associated funding in place with Afriquia Gaz*. A ten-year commitment from first gas to sell annual contractual quantity of 100 million standard cubic metres per annum with take or pay agreement priced at $6–$8.346 per mmBTU ex plant.
Development utilises the existing well stock of TE-6 and TE-7, with additionally the drilling of one new well as required to maintain the ten-year period of production plateau.
*loan conditional on issuing notice to proceed
Engineer, Procure, Construct, Operate and Maintain lease contract signed with contractor Italfluid Geoenergy S.r.l for Micro LNG plant.
Micro LNG Plant to be designed, constructed, commissioned, operated and maintained by Italfluid with guarantees for plant operability and delivery.
Lease structure (with option to buy):