Morocco: Chariot Oil & Gas plans to export gas

Chariot Oil & Gas has sent a note to its shareholders and partners to present its progressive vision for the commercialization of its natural gas extracted from the exploration wells of the Anchois and Loukkos gas fields in the Gharb basin, reports Challenge. Its commercial strategy is divided into three major axes. The British company is betting on regional commercialization. In this regard, it plans to deliver compressed natural gas directly by tanker trucks to the industrial areas of Kenitra, Casablanca and Tangier. In parallel, it aims to build, in the medium term, a new pipeline to connect its production to the existing Kenitra network. This pipeline will allow it to extend the reach of its commercialization on a national scale. The third axis is to connect, in the long term, its natural gas treatment unit to the Maghreb-Europe Gas Pipeline (GME) for export to Europe. This connectivity will open up new opportunities in the international market, the ambition being to reuse the GME, which is currently used to import gas from Spain, for its exports to Europe and the supply of local power plants.

The realization of this vision will involve a strategic partnership between Chariot and Vivo Energy Morocco. The two companies are considering collaborating to develop a dynamic gas market by ensuring the purchase, transport and distribution of natural gas to end users. They are also betting on a long-term sales contract to guarantee the sustainability of future gas production. In April 2023, the two companies signed a partnership agreement to create a joint venture for the distribution of natural gas to industrial customers in Morocco.