The Moroccan subsidiary of the British gas company Sound Energy is the subject of a tax reassessment concerning taxes and duties for the 2016-2017 period. The firm is contesting this reassessment, which caused its share price to plummet 17% on the London Stock Exchange on Tuesday.
The gas company Sound Energy PLC stated that it has not concluded any agreement with a Moroccan liquefied natural gas plant. The British company thus denies the rumors of the signing of a contract between the two parties.
The National Office of Hydrocarbons and Mines (ONHYM) has granted Sound Energy a two-year extension on its Sidi Moktar onshore exploration permit. This new authorization will allow the British company established in Morocco to make up for the time lost due to the coronavirus pandemic.
The British company Sound Energy has announced that its natural gas liquefaction project in Tendrara would be delayed due to the ongoing COVID-19 situation in Morocco .
The Ministry of Energy has approved the environmental impact study (EIS) of Sound Energy’s Tendrara gas export pipeline project (TGEP), thus giving the British company the green light to settle in eastern Morocco .
According to Moroccan experts, the kingdom is "a step away from joining the club of natural gas exporters", after the British group Sound Energy received the green light from the Moroccan government to assess the environmental impact of the new 120 km pipeline, which is to connect Morocco to Europe.
The Ministry of Energy has given the green light to the British company, Sound Energy, to build a 120-kilometer gas pipeline.
The British firm, Sound Energy PLC, announced the signing of a memorandum of understanding for the sale to the National Office of Electricity and Drinking Water (ONEE) of natural gas from the Tendrara concession in the Oriental region. However, the signing of a detailed agreement is still under negotiation, according to a press release published on the company’s website.
Sound Energy, the British company dedicated to gas services in Morocco, announces in a press release that the equipment necessary for the implementation of the second phase of its program has arrived on the production site.