Further commercialization of future Anchois gas production
Chariotthe transition energy company focused on Africa, has signed a collaboration agreement with I live Energy with the aim of creating a midstream joint venture that will oversee the distribution of natural gas to industrial customers in Morocco. Vivo Energy, the leading pan-African retailer and distributor of premium fuels and lubricants has a long-standing presence in Morocco’s petroleum products sector, operating a network of over 400 service stations and supplying commercial and industrial customers in across a number of sectors of the Kingdom.
The objectives of the collaboration will be:
- implement a gas business in the industry in Morocco by developing the commercialization and marketing of natural gas to industrial customers;
- establish a jointly owned special purpose vehicle for the purchase, transportation and distribution of natural gas to end users; i
- enter into a long-term gas sales agreement for a portion of future gas production from the Anchois development project.
Adonis Pouroulis, CEO of Chariot, commented:
‘We are delighted to partner with Vivo Energy, a company that has an extensive footprint in Morocco and the African continent, to develop and provide a long-term supply of natural gas to the country’s rapidly growing industrial sector.
“The significant demand for industrial gas from Morocco, which this partnership will supply, further supports the commercial viability of the Anchois project. This agreement confirms the priority given by Chariot to the Moroccan energy market, expands our other existing sales negotiations on future gas dams from the Anchois gas field and establishes a collaborative partnership with one of the continent’s leading energy distributors as we continue to develop this low-risk, high-margin asset.’
Stan Mittelman, CEO of Vivo Energy, commented:
‘We are very happy to enter into this partnership. We will work closely with Chariot to jointly leverage our position in Morocco, giving us the opportunity to offer a cleaner and more competitive energy source for our industrial customers.
“The further development of the country’s mid and low infrastructure will also facilitate the distribution and increased use of this important domestic resource in the long term as the industrial gas markets continue to mature. We are confident that the development of the Anchois field, combined with the advancement of Morocco’s gas market, will further accelerate the country’s industrial roadmap to become a less carbon-intensive economy and support its export strategy.
Pierre Raillard, CEO of Chariot Morocco, commented:
‘The partnership with Vivo Energy to deliver this gas to the industry creates additional margin for Anchois’ future production. A key part of our strategy in Morocco is to promote energy self-sufficiency and be a catalyst for growth and we are very pleased to work together to deliver this important national resource directly to the country’s gas-hungry industrial sector.
Peyami Oven, Vivo Energy Maroc MD, commented:
‘This partnership is critical to support the transition of industrialists to a lower carbon energy source. The development of an industry gas market will allow our current and potential customers to have access to an abundant and cost competitive source of domestic gas. Together with Chariot, our partnership is based on great experience and deep knowledge of the Moroccan market and the latest gas technologies. This makes us well positioned to provide best-in-class, fit-for-purpose energy solutions to a wide spectrum of industries in Morocco.
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Source: Cart
