Page 8 - DMEA Week 36 2022
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DMEA COMPANIES DMEA
The ruling brought a two-year legal battle to a In their claim, the investors said Sasol’s
close. The investors’ legal team had contended leadership at the time had on several occasions
that the value of Sasol securities had declined deliberately underreported the project’s cost
significantly as a result of rising cost of the Lake to investors and the public. They did so “in an
Charles Chemical Complex project, thereby effort to artificially prop up Sasol’s securities
causing the investors to incur losses in the hun- prices and trigger lucrative executive bonus
dreds of millions of dollars, Reuters notes. packages,” the plaintiffs said.
PIPELINES
Chariot gains access to GME pipeline under
tie-in agreement with ONHYM
AFRICA UK-BASED Chariot revealed on September 7 “I am very pleased to announce the signing of
that it had gained access to a natural gas pipe- this pipeline tie-in agreement with our partner
line under a new agreement with Morocco’s on the Lixus licence, ONHYM,” he said. “This
national oil company (NOC), L’Office National moves Chariot a step closer towards delivering
des Hydrocarbures et des Mines (ONHYM). first gas from the Anchois gas field to potential
In a statement, Chariot explained that its customers using the GME pipeline. The Anchois
tie-in agreement would allow gas from its off- gas project is a highly strategic asset, given the
shore Anchois field to be loaded into the Gaz continued volatility of global energy markets,
Maghreb-Europe (GME) pipeline for transpor- and combined with its proximity to the interna-
tation to various buyers. ONHYM is the opera- tional GME pipeline, we are well placed to bring
tor of the Moroccan section of GME, which was gas online as quickly as possible.”
built to pump Algerian gas along a route that Anchois lies within the offshore Lixus block.
passes through the country and across the Med- Chariot has said that the field contains at least
iterranean Sea to Spain. 637bn cubic feet (18.04bn cubic metres) in 2C
Chariot did not say whether it intended to reserves, and it hopes to begin production in
use its access to the GME to export future pro- 2024.
duction to the European market via Spain. How- Equity in the project is divided between
ever, it did indicate that the tie-in deal had lent Chariot, with 75%, and ONHYM, with 25%.
extra support to the Anchois project. Earlier this year, the partners hired a consor-
Pierre Raillard, the head of Chariot’s gas divi- tium formed by Schlumberger (US) and Subsea
sion and country director for Morocco, stressed 7 (Luxembourg) to provide front-end engineer-
this point. ing and design (FEED) services for Anchois.
The Anchois field lies in close proximity to the GME pipeline (Image: Chariot)
P8 www. NEWSBASE .com Week 36 08•September•2022
