Morocco’s power utility ONEE informed it has selected advisers for the development of the country’s LNG-to-power project.
According to ONEE, HSBC Middle East has been selected as the financial adviser under a contract worth US$7 million, while the law firm Ashurst has been chosen as the legal advisor on the project. The legal contract is worth €1.9 million (Approx: $1.97 million).
Morocco is looking to diversify its sources of fuels supply, mainly through increasing the share of natural gas in its energy mix.
The country’s LNG-to-power project includes the construction of the marine jetty at Jorf Lasfar, as well as the LNG import terminal, including the LNG storage, the utility said in an earlier statement.
Morocco intends to connect natural gas pipelines to the combined cycle power plants and eventually the natural gas underground storage facilities.
A high-pressure gas pipeline will be built to connect the LNG terminal to the existing Maghreb-Europe high-pressure gas pipeline. Regasified LNG will be fed to combined cycle power plants capable of producing 2400 MW of electricity.
The project cost is estimated at $4.6 billion and would enable Morocco to start importing up to 7 billion cubic meters of gas by 2025.
LNG World News Staff