Morocco Picks Financial & Legal Advisers for LNG Import Plan

Source: Reuters 1/3/2017, Location: Africa

Moroccan state-owned power utility ONEE has picked HSBC Middle East Limited as financial adviser for its plan to boost its imports of liquefied natural gas (LNG), ONEE said in a statement. It has also chosen the law firm Ashurst LLP as legal adviser for the same plan.

The HSBC contract is worth $7 million while Ashurst will earn around $2 million, the statement said. The entire project, worth up to $4.6 billion, includes the import of up to 7 billion cubic metres (bcm) of gas by 2025, the construction of a jetty, terminal, pipelines and gas-fired power plants.


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