https://en.sputniknews.africa/20240615/moroccan-mining-company-buys-subsidiary-of-uk-gas-enterprise-reports-say-1067063153.html
Moroccan Mining Company Buys Subsidiary of UK Gas Enterprise, Reports Say
Moroccan Mining Company Buys Subsidiary of UK Gas Enterprise, Reports Say
Sputnik Africa
Morocco is a gas importer. In 2016, Morocco's King Mohammed VI and then-Nigerian President Muhammadu Buhari announced the creation of a Nigeria-Morocco gas... 15.06.2024, Sputnik Africa
2024-06-15T18:43+0200
2024-06-15T18:43+0200
2024-06-17T12:37+0200
morocco
united kingdom (uk)
spain
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north africa
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Morocco's mining company, Managem, has bought a subsidiary of UK gas company Sound Energy Morocco East, the media reported.The total value of the transaction is reportedly $45.2 million. The sale is crucial for advancing production in the Tendrara gas field located in eastern Morocco, according to Sound Energy, as per the media.Production at the field is anticipated to begin at 100 million cubic meters per year starting next year, Managem said, according to the outlet.The company reportedly intends to enhance production to 280 million cubic meters by connecting the field to an existing gas pipeline that links Morocco to Spain.In 2016, the Nigeria-Morocco gas pipeline project was announced by Morocco's King Mohammed VI and former Nigerian President Muhammadu Buhari. Thirteen West African countries and Europe are expected to benefit from the pipeline.
https://en.sputniknews.africa/20231109/nigeria-morocco-gas-pipeline-to-facilitate-african-integration-says-official-1063433130.html
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morocco, united kingdom (uk), spain, gas, gas pipeline, north africa
morocco, united kingdom (uk), spain, gas, gas pipeline, north africa
Moroccan Mining Company Buys Subsidiary of UK Gas Enterprise, Reports Say
18:43 15.06.2024 (Updated: 12:37 17.06.2024) Morocco is a gas importer. In 2016, Morocco's King Mohammed VI and then-Nigerian President Muhammadu Buhari announced the creation of a Nigeria-Morocco gas pipeline, which will facilitate gas supply to Morocco.
Morocco's mining company, Managem, has bought a subsidiary of UK gas company Sound Energy Morocco East, the media reported.
The total value of the transaction is reportedly $45.2 million. The sale is crucial for advancing production in the Tendrara gas field located in eastern
Morocco, according to Sound Energy, as per the media.
Production at the field is anticipated to begin at 100 million cubic meters per year starting next year, Managem said, according to the outlet.
"The group is actively looking for other gas assets in Africa," Managem CEO Imad Toumi was quoted in the statement as saying.
The company reportedly intends to enhance production to 280 million cubic meters by connecting the field to an existing gas pipeline that links Morocco to Spain.
In 2016, the Nigeria-Morocco
gas pipeline project was announced by Morocco's King Mohammed VI and former Nigerian President Muhammadu Buhari. Thirteen West African countries and Europe are expected to benefit from the pipeline.
