Pipeline Tie-in Agreement Signed in Morocco

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	[phone]
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	[phone]
Celicourt Communications  (Financial PR) Mark Antelme, Jimmy Lea	[phone]

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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