Chariot Limited Pipeline Tie-in Agreement Signed in Morocco (5112Y)
September 07 2022 - 2:00AM
UK Regulatory
TIDMCHAR
RNS Number : 5112Y
Chariot Limited
07 September 2022
7 September 2022
Chariot Limited
("Chariot", the "Company")
Pipeline Tie-in Agreement Signed in Morocco
Moving Anchois Gas Project closer to FID
Chariot Limited (AIM: CHAR), the African focused transitional
energy company, is pleased to announce it has signed a Pipeline
Tie-In Agreement with the Office National des Hydrocarbures et des
Mines ("ONHYM") securing access to the major Maghreb Europe Gas
Pipeline ("GME") in Morocco. The GME, owned and operated by ONHYM,
runs from eastern Morocco through to Tangiers in the north and
subsequently across to Spain. This agreement will enable the gas
produced from the Anchois Gas Project, offshore Morocco, to be
transported via the GME to different potential offtakers.
Pierre Raillard, Head of Gas Business & Morocco Country
Director at Chariot, commented:
"I am very pleased to announce the signing of this Pipeline
Tie-In Agreement with our partner on the Lixus licence, ONHYM. This
moves Chariot a step closer towards delivering first gas from the
Anchois gas field to potential customers using the GME pipeline.
The Anchois Gas Project is a highly strategic asset given the
continued volatility of global energy markets and combined with its
proximity to the international GME pipeline, we are well placed to
bring gas online as quickly as possible."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014, as retained in the UK
pursuant to S3 of the European Union (Withdrawal) Act 2018.
Enquiries
Chariot Limited
Adonis Pouroulis, CEO
Julian Maurice-Williams, CFO +44 (0)20 7318 0450
Cenkos Securities Plc (Nomad and Joint Broker)
Derrick Lee, Adam Rae + 44 (0)20 7397 8900
Peel Hunt LLP (Joint Broker)
Richard Crichton, David McKeown +44 (0) 20 7894 7000
Celicourt Communications (Financial PR)
Mark Antelme, Jimmy Lea +44 (0)20 8434 2754
NOTES FOR EDITORS:
About Chariot
Chariot is an African focused transitional energy group with
three business streams, Transitional Gas, Transitional Power and
Green Hydrogen.
Chariot Transitional Gas is focused on a high value, low risk
gas development project offshore Morocco with strong ESG
credentials in a fast-growing emerging economy with a clear route
to early monetisation, delivery of free cashflow and material
exploration upside. Chariot Transitional Power, is looking to
transform the energy market for mining operations in Africa, by
providing a giant largely untapped market with cleaner,
sustainable, and more reliable power. Chariot is also partnering
with Total Eren and the Government of Mauritania on the potential
development of a 10GW green hydrogen project, named Project
Nour.
The ordinary shares of Chariot Limited are admitted to trading
on the AIM under the symbol 'CHAR'.
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