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7 months ago
Morocco picks financial and legal advisers for LNG import plan
January 3, 2017 / 12:41 PM / 7 months ago

Morocco picks financial and legal advisers for LNG import plan

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RABAT, Jan 3 (Reuters) - Moroccan state-owned power utility ONEE has picked HSBC Middle East Limited as financial adviser for its plan to boost its imports of liquefied natural gas (LNG), ONEE said in a statement on Tuesday.

It has also chosen the law firm Ashurst LLP as legal adviser for the same plan.

The HSBC contract is worth $7 million while Ashurst will earn around $2 million, the statement said.

The entire project, worth up to $4.6 billion, includes the import of up to 7 billion cubic metres (bcm) of gas by 2025, the construction of a jetty, terminal, pipelines and gas-fired power plants. (Reporting by Aziz El Yaakoubi; Editing by Adrian Croft)

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