British Firm Predator Oil & Gas Bids for Major LNG Terminal Project in Morocco

The British Predator Oil & Gas, holder of an operating license in Guercif onshore in the north of the country, has submitted a bid for the construction and operation of a floating liquefied natural gas import terminal (FSRU) in Morocco, the gas group announced in a press release on Monday.

According to the press release, the FSRU project in Morocco is a long-term program aimed at meeting by 2025 an annual need of 1.1 billion cubic meters (Gm³) which should increase to 1.7 billion in 2030 and 3 billion in 2040. Hence the interest of Predator Oil & Gas which intends to seize this commercial opportunity to support Morocco in its policy of imposing gas and renewable energies to reduce its coal-fired electricity production.

This new project does not compete with that of Guercif which is a short-term project, the same source assures. The deadline for the tender launched by the Ministry of Energy, Mines and the Environment is set for May 31 next.

The realization of the FSRU project in Morocco will contribute to "increasing both the materiality and the potential for future gas exports to Europe once the Moroccan gas market reaches its capacity," explains the British company, which intends to develop "several development scenarios for both domestic and international gas markets."

The gas company also reported on its project in Ireland, noting that negotiations are ongoing regarding additional collaboration agreements concerning both the LNG project in Morocco and its plans for a floating terminal (FSRU) in Ireland with a capacity of 2.6 Gm³ / year in Ireland.