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Morocco: Sound Energy announces Phase 1 Development LNG Sale and Purchase Agreement and Equity Subscription
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Morocco: Sound Energy enters into letter of exclusivity for Tendrara Phase 1 Development
04 Jan 2021
Sound Energy has provided an update in relation to the Company s proposed
micro liquefied natural gas ( mLNG ) phase 1 development project for the TE-5 Horst (the Phase 1 Development ) at the
Tendrara Production Concession, onshore Morocco.
Letter of Exclusivity
The Company has announced that
Sound Energy Morocco East Limited ( SEMEL ), the Company s wholly owned subsidiary, has entered into a letter of exclusivity (the LoE ) with
Italfluid Geoenergy pursuant to which the parties have agreed to use their reasonable endeavours to negotiate and enter into a binding project contract which will on entry commit Italfluid to design, construct, commission, operate, maintain and let to SEMEL a mLNG Plant which can produce LNG. The mLNG Plant, which will also treat and process raw gas from the Phase 1 Development prior to liquefaction, is a substantial part of the surface facilit
The Company is delighted to announce that Sound Energy Morocco East Limited ( SEMEL ), the Company s wholly owned subsidiary, has entered into a letter of exclusivity (the LoE ) with Italfluid Geoenergy S.r.l. ( Italfluid ) pursuant to which the parties have agreed to use their reasonable endeavours to negotiate and enter into a binding project contract (the Project Contract ) which will on entry commit Italfluid to design, construct, commission, operate, maintain and let to SEMEL a mLNG Plant (the mLNG Plant ) which can produce LNG. The mLNG Plant, which will also treat and process raw gas from the Phase 1 Development prior to liquefaction, is a substantial part of the surface facilities required to be built and operated as part of the Phase 1 Development.