June 8, 2018 / 2:08 PM / 6 months ago

Sound Energy to build pipeline to commercialise Moroccan gas

RABAT (Reuters) - Britain’s Sound Energy (SOU.L) has signed a heads of terms agreement with a consortium to build a 20 inch gas pipeline and a processing plant to commercialise its discoveries in Eastern Morocco, it said.

The consortium comprising Spain’s Enagas (ENAG.MC), Elecnor (ENOR.MC) and Fomento has been awarded the deal under a build-own-operate-transfer (BOOT) structure, the Morocco-focused company said.

“The Consortium will finalise plans to secure access to some $184 million of development capital that will be required to fund the project,” it said in a statement.

Reporting by Ahmed Eljechtimi; Editing by Ulf Laessing; Editing by David Goodman

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