Morocco’s Tendrara Gas Field Set to Boost Energy Independence by 2024

5 May 2023 – bySaid@Bladi · 1 min read

The British company in charge of exploiting the Tendrara gas field, Sound Energy, indicates that the first revenues generated by this project should be perceived as early as 2024. The company is working closely with the National Office of Electricity and Drinking Water (ONEE) to carry out this exploitation.

A binding agreement has been concluded between the two parties for the sale of natural gas from the Tendrara concession, for a period of ten years. In this framework, Sound Energy undertakes to deliver up to 350 million cubic meters of natural gas per year to the Maghreb-Europe Gas Pipeline (GME) during this period.

In April 2021, Sound Energy signed an agreement with Afriquia Gaz, a subsidiary of the Akwa group, providing for the supply of a minimum of 100 million cubic meters of liquefied natural gas (LNG) per year for ten years.

On another note, Sound Energy announced that it had resolved the tax dispute that opposed it to the Moroccan authorities. The Moroccan subsidiary of the company, created in 2015, had been the subject of a tax adjustment covering the period 2016-2018. A global agreement has been reached to definitively settle this dispute with the Moroccan tax authorities. But this agreement remains subject to the court’s acceptance of the withdrawal of all ongoing cases.

Category: Economy

Keywords:

Afriquia National Office of Electricity and Drinking Water Sound Energy